Cheskel Schwimmer refinanced his 116-unit rental building on Ocean Avenue in Flatbush with a $42 million loan from Valley National Bank. The new mortgage replaces a $24.2 million loan first provided against the building by First Niagara Bank, Commercial Observer reported. KeyBank took over the loan when it bought First Niagra in 2015. Schwimmer’s Chess Builders finished construction on the eight-story building at 1325 Ocean Avenue 10 months ago. The building has a roughly even […]
source https://therealdeal.com/2018/07/30/cheskel-schwimmer-refis-flatbush-building-with-valley-national-loan/
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