ELH Management borrows $16M from Walker & Dunlop for multifamily property in Bedford-Stuyvesant

Larry Hirschfield’s ELH Management through the entity 27 Bed Stuy LLC as borrower signed a loan agreement with lender Walker & Dunlop Commercial Property Funding, LLC valued at $16.3 million for 31 parcels, including the tax class multifamily, over six families without stores (C1) and containing 210 residential units at 143 Marcus Garvey Blvd, 1434 Broadway, 162 Vernon Avenue, 1064 Putnam Avenue, 1074 Putnam Avenue, and others in Bedford-Stuyvesant. The deal closed on December 20, 2019 and was recorded on January 3, 2020.
The property has 241,813 square feet of existing space and available development rights.
The average loan per unit is $77,619.

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