Joel Gluck signs $15M refi with Customers Bank for rental in Brownsville

Joel Gluck through the entity Riverstone Housing Associates LLC as borrower signed a refi loan with lender Customers Bank valued at $15 million for the 120-unit rental (D1) at 463 Watkins Street in Brownsville, Brooklyn.
The deal closed on May 12, 2021 and was recorded on June 1, 2021.
The property has 114,444 square feet of built space and 34,283 square feet of additional air rights for a total buildable of 148,764 square feet according to PincusCo analysis of city data. The loan price per built square foot is $131 and the price per buildable square foot is $100 per the PincusCo analysis.
The owner bought the property on 9-Jul-13, for $1.8 million.
The signatory for Joel Gluck was Joel Gluck.

The property obtained a $5.2 million gap loan.
The owners according to the Department of Housing Preservation and Development includes Eli Schwartz, head officer and Jose Mata, site manager. The business entity is Riverstone Housing Associates LLC.

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