Gary Zuckerman borrows $8.5M from New York Community Bank for multifamily property in University Heights

Gary J. Zuckerman through the entity Zuckerman Realty Corp as borrower signed a loan agreement with lender New York Community Bank valued at $8.5 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 47 residential units at 1975 Sedgwick Avenue in University Heights. The deal closed on May 22, 2020 and was recorded on July 10, 2020.
The property contains a total of 55,000 square feet of built space.
The average loan per unit is $180,660.

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