Jacob Schwimmer obtained financing of $63M from Cantor Commercial Real Estate Lending

Jacob Schwimmer through the entity 115 Stanwix Realty LLC as borrower signed a loan agreement with lender Cantor Commercial Real Estate Lending, L.P. valued at $63.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 136 residential units at 908 Flushing Avenue in Bushwick. The deal closed on August 27, 2019 and was recorded on September 10, 2019.
The property contains a total of 96,140 square feet of built space.
The average loan per unit is $463,235.
The last time the property sold was August 16, 2017, for $23,400,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 136 residential (or hotel) units on May 13, 2019.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 96,140 square feet. Those plans include a total of 136 residential or hotel units.
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Direct link to the city’s interactive property map, ZOLA. link

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