Clutter signs $23.8M loan with FS Investments for storage n East Flatbush

Clutter through the entity 5601 Foster Ave Storage LLC as borrower signed a loan with lender FS Investments through the entity Fs Creit Originator LLC valued at $23.8 million for two industrial properties including the industrial (E7) at 5601 Foster Avenue in East Flatbush, Brooklyn and industrial (E7) at 5633 Foster Avenue in East Flatbush, Brooklyn.
The deal closed on September 9, 2021 and was recorded on September 20, 2021.
The two properties have 84,000 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $283 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 Clutter was Cameron Maloney.
(320077126)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on April 15, 2014.
FS Investments is based in Philadelphia.

Within a 400-foot radius of 5601 Foster Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a sale which Yosef Sternberg bought the 31,800-square-foot, one-unit retail building (K1) on 5701 Foster Avenue for $7.2 million from Daniel Fried on July 7, 2020.

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