Financing · East Flatbush
224 & 234 Clarkson Avenue Financing (Aug. 2026)
A Williamsburg-based team led by Shlomo Karpen, Norman Strulovitch and Anshel Fridman is building two 99-unit residential buildings, 198 apartments in all, on a site it bought in 2025.
- Amount
- $72M
- Type
- Financing
- Date
- Aug. 2026
224 Clarkson Avenue, Brooklyn, NY
Recorded in NYC property records.
- Borrower
- 224 Clarkson LLC
- Lender
- Valley National Bank
- Corrects earlier research that had misread this ACRIS activity as a refinance of an existing industrial building.
- Financing funds two new 99-unit residential buildings -- 198 units total -- on a site bought for $20M in 2025.
- Architect Shmuel Wieder was identified via axonometric diagrams filed with the Department of Buildings.
Overview
A Williamsburg-based development team -- Shlomo Karpen, Norman Strulovitch, and Anshel Fridman, operating as 224 Clarkson LLC -- closed a $72 million Valley National Bank construction loan in August 2026 for two new 99-unit residential buildings at 224 and 234 Clarkson Avenue in East Flatbush. Valley National Bank is named as administrative agent on the ACRIS mortgage and term-loan documents, with the City of New York's Department of Housing Preservation and Development also a named party. The team bought the site for $20 million in 2025 from Global Asset Properties, per PincusCo and Commercial Observer.
PincusCo's reporting identifies Shmuel Wieder as the project's architect, based on axonometric diagrams filed with the Department of Buildings.
A significant correction to earlier research that had misread this ACRIS activity as a refinance of an existing industrial building -- PincusCo's reporting confirms it is live new-construction financing for 198 new units, two years after the site traded for a fraction of the loan amount.
Parties Involved 3 recorded
Basis
Named on the ACRIS MTGE/TL&R documents as the mortgaging party.
Basis
Named on the ACRIS MTGE/TL&R documents as administrative agent.
Basis
Named directly on the ACRIS financing documents.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.