Financing · Coney Island
Bay View Avenue & Oceanpoint Drive lands $21.3M
- Amount
- $21.3M
- Type
- Financing
- Date
- Jul. 2026
Bay View Avenue & Oceanpoint Drive, Brooklyn, NY
Recorded in NYC property records.
- Borrower
- Bayview Complex LLC
- Lender
- Bank Hapoalim B.M.
- Plans call for ten 12-story buildings and 989 units total, filed roughly two months after this financing closed.
- Nine of the ten buildings are planned at exactly 99 units each -- a configuration The Real Deal reports is designed to stay under the 100-unit threshold that triggers a 485-x construction wage floor.
- Braver bought the site for $46 million in 2023 and took an initial $17 million loan from Hakimian Partners in 2024; this $21.3 million position is larger, read as a refinancing ahead of the filing.
- Architect of record is Joseph Frankl of JFA Architects & Engineers; Joel Weiss's Heartfelt Builders is partnering on the project.
Overview
On July 10, 2026, Bayview Complex LLC -- the entity through which developer Moshe Braver controls this roughly 9-acre assemblage spanning Bay View Avenue, Oceanpoint Drive, Seacrest Lane, and West 33rd Street in Coney Island -- recorded a $21.3 million mortgage with Bank Hapoalim B.M. The loan is larger than the $17 million acquisition loan Braver took from Hakimian Partners in 2024, a year after buying the site outright for $46 million in 2023; PincusCo's own property record for the site confirms the loan closed July 17, 2026.
The financing closed roughly two months before Braver filed Department of Buildings plans -- reported by PincusCo and The Real Deal in late September 2026 -- for ten 12-story buildings totaling 989 units and 655,000 square feet on the site, one of the largest single development filings Hush Street has found in Coney Island. Nine of the ten buildings are planned at exactly 99 units each, with the tenth at 98; The Real Deal reported that configuration is a deliberate way to stay under the 100-unit threshold that triggers a $40-per-hour construction wage floor under the state's 485-x tax abatement program, a pattern now recurring across multiple large New York City filings. Joseph Frankl of JFA Architects & Engineers is the architect of record on all ten buildings; Joel Weiss's Heartfelt Builders is partnering on the project, though neither Braver nor Weiss could be reached for comment by The Real Deal.
Braver has been active elsewhere in the city as well -- in February 2025 he secured a $148 million construction loan from Dwight Mortgage Trust for a 524-unit project at 94-15 Sutphin Boulevard in Jamaica, Queens, a deal The Real Deal reported also involves Joel Zupnick. Bank Hapoalim, an Israeli bank with an active U.S. commercial real estate lending arm, is the new lender of record on this larger Coney Island position.
The project sits in the same stretch of Coney Island where Rybak Development filed plans in July 2026 for Tilyou Towers, a 527-unit tower replacing a city-owned parking lot at 2108 Surf Avenue -- two of the largest active development filings in the neighborhood moving in parallel. Neither project is yet reflected in Hush Street's Coney Island registry.
One of the largest development filings Hush Street has found anywhere in Coney Island -- 989 units across ten buildings, with financing that scaled up just ahead of the formal DOB filing, and a unit-count pattern (99 units per building) that's becoming a recurring workaround to the state's 485-x wage-floor rule.
Parties Involved 4 recorded
Basis
Named as party1 (mortgagor) on the ACRIS MTGE document; PincusCo's own property record independently confirms Moshe Braver as the controlling principal.
Moshe Braver: Recorded on this Deal as the party behind "Bayview Complex LLC" — named in this Deal's own published summary; named in this participant row's own role basis. The ACRIS-recorded party is unchanged and remains "Bayview Complex LLC".
Basis
Named as party2 (mortgagee) on the ACRIS MTGE document; PincusCo's own property record confirms the $21.3M loan and its July 17, 2026 closing date.
Basis
Reported by The Real Deal as partnering with Braver on the site through his firm, Heartfelt Builders; not named on the ACRIS financing documents.
Basis
Described as the developer of this assemblage in Hush Street's own published summary for this Deal ("the entity through which developer Moshe Braver controls this roughly 9-acre assemblage"), and reported by The Real Deal and PincusCo as having bought the site for $46 million in 2023, taken a $17 million acquisition loan in 2024, and filed Department of Buildings plans for ten 12-storey buildings in September 2026. Not himself named on the ACRIS financing documents -- the recorded borrower is Bayview Complex LLC, on which he is already recorded as the corroborated sponsor.
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.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Document Detail -- mortgage, $21,260,000 — NYC ACRIS
- Moshe Braver files 10-building, 989-unit plan in Coney Island — The Real Deal
- Moshe Braver files 10 plans for 989 units in Coney Island — PincusCo
- West 33 Street -- property transaction record — PincusCo