Bronstein Properties refis $29.2M from Capital One for rental property in Upper Manhattan

Bronstein Properties through the entity Post 118 LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $29.2 million for 4 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 271 residential units at 55 Payson Avenue, 118 Post Avenue, 20 Seaman Avenue, 521 Isham Street in Upper Manhattan. The deal closed on June 11, 2020 and was recorded on July 20, 2020.
The property has 234,098 square feet of built space and available development rights.
The average loan per unit is $107,565.
Barry Rudofsky was the signatory for the borrower. The financing includes an $807,036 gap loan.

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