David Adelsberg borrows $7M from Greystone & Co. for multifamily property in Bay Ridge

David Adelsberg through the entity 450 Management, LLC as borrower signed a loan agreement with lender Greystone & Co. (which then assigned the loan to Fannie Mae) through the entity Greystone Servicing Company LLC valued at $7.1 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 72 residential units at 450 95th Street in Bay Ridge. The deal closed on June 12, 2020 and was recorded on June 17, 2020.
The property contains a total of 61,818 square feet of built space.
The average loan per unit is $98,924.
This is the first debt on the property since 2008.

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