Dragos Firescu doubled debt to $18.3M from Investors Bank for industrial in Highbridge

Dragos A. Firescu through the entity Jerome JSD Holdings, LLC as borrower signed a loan agreement with lender Investors Bank valued at $18.3 million for 4 parcels, including the tax class semi-fireproof manufacturing building (F4) at 21 East Clarke Place, 1342 Inwood Avenue, 1339 Jerome Avenue, 1351 Jerome Avenue in Highbridge. The deal closed on August 24, 2020 and was recorded on August 26, 2020.
The property has 451,957 square feet of built space and available development rights.
The average loan per buildable square foot is $40.
The financing included a $7.9 million gap loan. The last time the property sold was May 6, 2015, for $9,000,000.

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