Jonathan Rose Companies borrows $53M from Merchants Capital Corp to purchase property in Mott Haven

Jonathan Rose Companies through the entity Rahf V Thess, LLC as borrower signed a loan agreement with lender Merchants Capital Corp valued at $53.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 191 residential units at 350 St Anns Avenue in Mott Haven. The deal closed on December 22, 2020 and was recorded on December 28, 2020.
The property contains a total of 179,130 square feet of built space.
The average loan per unit is $279,571.
This is an acquisition loan.
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