Bronstein Properties signs $28.4M refi loan with Signature for two rentals in Corona

Bronstein Properties through the entity Sherwood LLC as borrower signed a refi loan with lender Signature Bank valued at $28.4 million for two rentals including the 138-unit rental (D1) at 55-15 99th Street in Corona, Queens and 67-unit rental (D1) at 60-15 Calloway Street in Corona, Queens.
The deal closed on November 30, 2021 and was recorded on December 27, 2021.
The two properties have 235,348 square feet of built space and 50,247 square feet of additional air rights for a total buildable of 281,784 square feet according to PincusCo analysis of city data. The loan price per built square foot is $120 and the price per buildable square foot is $100 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Bronstein Properties was Barry Rudofsky.

Barry Rudofsky is the owner of Bronstein Properties.
The owners according to the Department of Housing Preservation and Development includes Barry Rudofsky, head officer and Scott Silverman, head officer. The business entities are Bronstein Properties, Llc and Sherwood Llc.

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