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 mix of studios and one- and two-bedroom apartments. [CO] – Rich Bockmann