1260 Decatur LLC obtained financing of $8M from Santander Bank

1260 Decatur LLC as borrower signed a loan agreement with lender Santander Bank, N.A. valued at $8.0 million for 5 parcels, including the tax class multifamily, five to six families (C2) and containing 29 residential units at 1260 Decatur Street, 1345 Hancock Street, 1357 Hancock Street, 302 Stockholm Street, 116 Jefferson Street in Bushwick. The deal closed on August 20, 2019 and was recorded on August 23, 2019.
The property contains a total of 4,725 square feet of built space. The property has 6,525 square feet of available development rights.
The average loan per unit is $274,138.

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