David Fischer borrows $19M from New York Community Bank for multifamily property in Crown Heights

David Fischer through the entity C.Y. Empire Corp as borrower signed a loan agreement with lender New York Community Bank valued at $19 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 145 residential units at 1625 President Street, 1654 Union Street, 1660 Union Street, 440 Albany Avenue in Crown Heights. The deal closed on July 9, 2020 and was recorded on July 17, 2020.
The property contains a total of 44,640 square feet of built space.
The average loan per unit is $131,290.
The financing includes a $2.75 million gap loan.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link