Allied Property Group borrows $6M from Sterling National Bank for property in Brooklyn

Michael Chera’s Allied Property Group through the entity Fulton Gateway, LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $6 million for 3 parcels, including the tax class retail building with apartments above (K4) at 405 Fulton Street, 892 Flatbush Avenue, 523 Fulton Street in Brooklyn. The deal closed on June 16, 2020 and was recorded on June 23, 2020.

Michael Chera is the signatory for Allied. The financing includes $4.5 million in new debt.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link