City Skyline Realty borrows $7M from Signature Bank for multifamily property in Kingsbridge

Douglas Peterson’s City Skyline Realty through the entity 226 W 242 LLC as borrower signed a loan agreement with lender Signature Bank valued at $7.3 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 61 residential units at 226 West 242nd Street in Kingsbridge. The deal closed on February 13, 2020 and was recorded on March 3, 2020.
The property contains a total of 61,500 square feet of built space.
The average loan per unit is $118,852.

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