Bedford Development Associates LLC borrows $24M from Bridgemax Skillman Lender LLC for property in Bedford-Stuyvesant

Bedford Development Associates LLC as borrower signed a loan agreement with lender Bridgemax Skillman Lender LLC valued at $23.5 million for 1 parcel, including the tax class multifamily, miscellaneous (D9) and containing 36 residential units at 261 Skillman Street in Bedford-Stuyvesant. The deal closed on September 27, 2019 and was recorded on October 28, 2019.
The property contains a total of 72,613 square feet of built space.
The average loan per unit is $371,400.
The last time the property sold was April 3, 2008, for $4,100,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $73,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link