Alchemy Ventures borrows $12.8M from Citibank for property in Brooklyn

Alchemy Ventures through the entity Summit 308 Lincoln Road LLC as borrower signed a loan agreement with lender Citibank valued at $12.8 million for 6 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 45 residential units at 1021 8th Avenue, 308 Lincoln Road, 210 Prospect Park West, 639 Sterling Place, 637 Sterling Place, and others in Brooklyn. The deal closed on January 21, 2021 and was recorded on February 26, 2021.
The property has 39,622 square feet of built space and available development rights.
The average loan per unit is $283,544.

Direct link to Acris document. link