Delwar Hussain signs $15.9M refi loan with TD Bank for rental in Bedford-Stuyvesant

Delwar Hussain through the entity Surat Realty as borrower signed a refi loan with lender TD Bank valued at $15.9 million for the 154-unit rental (D1) at 400 Herkimer Street in Bedford-Stuyvesant, Brooklyn.
The deal closed on June 11, 2021 and was recorded on June 25, 2021.
The property has 145,336 square feet of built space and 0 square feet of additional air rights for a total buildable of 129,663 square feet according to PincusCo analysis of city data. The loan price per built square foot is $109 per the PincusCo analysis.
The signatory for Delwar Hussain was Delwar Hussain.

The owners according to the Department of Housing Preservation and Development includes Delwar Hussain, head officer and Dilruba Hussain, officer. The business entity is Surat Realty.
Within a 400-foot radius of 400 Herkimer Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, two were in new building development. There were two new building permit applications. The most recent of these two items was a filing on May 7, 2020 for an 11,197-square-foot R-2 building with 10 residential units at 423 Herkimer Street.
Of those five items, three were loans above $5 million totaling $55.5 million. The most recent of the three was Windsor Global which borrowed $23 million from Customers Bank secured by the 68,024-square-foot, 45-unit rental (D7) on 1520 Fulton Street on February 11, 2021.

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