Isaac Kassirer’s Emerald Equity Group borrows $15M from Sabal Capital for rental property in Longwood Melrose

Isaac Kassirer’s Emerald Equity Group through the entity Bronx 1235 Morris Avenue L.P. as borrower signed a loan agreement with lender Sabal Capital Partners through the entity Sabal Capital Ii, LLC valued at $14.8 million for 3 parcels, including the tax class C1 and containing 106 residential units at 214 East 168th Street, 773 Melrose Avenue, 1235 Morris Avenue in Longwood Melrose. The deal closed on October 11, 2019 and was recorded on October 31, 2019.
The property contains a total of 44,880 square feet of built space. The property has 118,653 square feet of available development rights.
The average loan per unit is $139,368.
The last time the property sold was March 1, 2016, for $5,847,146.

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