Glenwood Road Properties LLC obtained financing of $7M from New York Community Bank

Glenwood Road Properties LLC as borrower signed a loan agreement with lender New York Community Bank valued at $6.8 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 50 residential units at 885 East 38 Street, 3802 Glenwood Road in East Flatbush. The deal closed on August 14, 2019 and was recorded on August 30, 2019.
The property contains a total of 25,200 square feet of built space.
The average loan per unit is $136,600.
The last time the property sold was May 04, 2016, for $8,100,000.

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