Cheskel Schwimmer borrows $13M from TD Bank for multifamily property in Bedford-Stuyvesant

Cheskel Schwimmer through the entity 221 Spencer Street Holdings LLC as borrower signed a loan agreement with lender Td Bank, N.A. valued at $13.0 million for 29 parcels, including the tax class multifamily, over six families without stores (C1) and containing 46 residential units at 221 Spencer Street, 407 Chauncey Street, 328 East 119th Street, 414 East 120th Street, 328 East 119th Street, and others in Bedford-Stuyvesant. The deal closed on December 31, 2019 and was recorded on January 10, 2020.

The average loan per unit is $282,609.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 8 residential (or hotel) units on November 28, 2014.

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