Camber Property gets acquisition loan of $23M from Merchants Capital for property in Mott Haven

Camber Property Group through the entity Brook & Brown Housing Development Fund Corporation as borrower signed a loan agreement with lender Merchants Capital Corp. valued at $23.1 million for 6 parcels, including the tax class multifamily, converted (D5) and containing 127 residential units at 198 Brown Place, 202 Brown Place , 500 East 137th Street and others in Mott Haven. The deal closed on October 30, 2020 and was recorded on November 18, 2020.

The average loan per unit is $181,890.
The last time the property sold was December 30, 2004 for $7,500,000.

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