Bronstein Properties borrows $19M from Citibank for multifamily property in Inwood

Barry Rudofsky’s Bronstein Properties through the entity Seaman 133 LLC as borrower signed a loan agreement with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $19.0 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 123 residential units at 133 Seaman Avenue, 30 Seaman Avenue in Inwood. The deal closed on January 23, 2020 and was recorded on January 27, 2020.
The property has 103,133 square feet of available development rights.
The average loan per unit is $154,472.
Prior debt provided by BankUnited totaled $19.5 million.

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