Darren Singer signs $17.5M refi loan with KeyBank for two rentals in Mott Haven

Darren Singer through the entity 109 Bruckner LLC as borrower signed a refi loan with lender KeyBank valued at $17.5 million for two rentals including the 20-unit rental (D1) at 109 Bruckner Boulevard in Mott Haven, Bronx and 22-unit rental (D1) at 417 East 135th Street in Mott Haven, Bronx.
The deal closed on September 1, 2021 and was recorded on September 10, 2021.
The two properties have 33,957 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $515 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 Darren Singer was Darren Singer.
(220606137)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 20 residential units on December 3, 2020. (220606137) Plans for a 20-unit, 14,094 square-foot R-2 were filed on July 13, 2017 and were permitted on April 23, 2019.
The owner according to the Department of Housing Preservation and Development is Darren Singer, head officer. The business entity is 109 Bruckner Llc.

Within a 400-foot radius of 109 Bruckner Blvd, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, two were in new building development. There were one new building permit application and one new building permit. The most recent of these two items was a permit on August 19, 2020 for a 37,396-square-foot R-2 building with 55 residential units at 101 Bruckner Boulevard.
Of those four items, two were loans above $5 million totaling $20.0 million. The most recent of the two was Martin Spitzer which borrowed $5.8 million from Citi Real Estate Funding secured by the 17,565-square-foot, 17-unit rental (D3) on BROWN Place on June 14, 2021.

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