Alberto Smcke Saba borrows $10M from Readycap Commercial for rehabbed multifamily property in Bedford-Stuyvesant

Alberto Smcke Saba through the entity CSC 340 Clifton LLC as borrower signed a loan agreement with lender Readycap Commercial valued at $10 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 19 residential units at 340 Clifton Place in Bedford-Stuyvesant. The deal closed on March 6, 2020 and was recorded on July 16, 2020.
The property contains a total of 17,800 square feet of built space.
The average loan per unit is $526,316.
The financing includes a $3.4 million gap loan. The last time the property sold was May 16, 2019, for $7,600,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 15 residential units on July 9, 2020.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,300,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link