Congregation Machna Shalva obtained financing of $11M from United Bank

Congregation Machna Shalva through the entity 4048 Cms LLC as borrower signed a loan agreement with lender United Bank valued at $11.0 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 29 residential units at 4018 15 Avenue, 5813 20 Avenue in Kensington. The deal closed on July 10, 2019 and was recorded on July 26, 2019.
The property contains a total of 42,500 square feet of built space.
The average loan per unit is $379,310.
The last time the property sold was August 02, 2017, for $6,739,666.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $4,637,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $709,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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