German School Brooklyn borrows $8M from CLI Capital for acquisition of property in Crown Heights

German School Brooklyn through the entity German School Brooklyn as borrower signed a loan agreement with lender CLI Capital through the entity Cli Capital valued at $8.3 million for 1 parcel, including the tax class parochial schools, yeshivas (W2) at 116 Rogers Avenue in Crown Heights. The deal closed on January 23, 2020 and was recorded on February 3, 2020.
The property contains a total of 5,400 square feet of built space. The property has 41,656 square feet of available development rights.
The average loan per buildable square foot is $176.
CLI Capital focuses on providing loans to charter schools.

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