KD Sagamore Capital signs $37M construction loan with Slate Property Group in Clinton Hill

KD Sagamore Capital through the entity Kd Sagamore-Ranger Fulton LLC as borrower signed a new construction loan with lender Slate Property Group through the entity Scale 982 Fulton Lender LLC valued at $37 million for the industrial (G7) at 982 Fulton Street in Clinton Hill, Brooklyn.
The deal closed on September 17, 2021 and was recorded on October 8, 2021.
(321384159) Plans for a 112-unit, 113,816 square-foot R-2 were filed on August 31, 2018.

The signatory for KD Sagamore Capital was Scott Kummings.

Scott Kummings is the founding principal of KD Sagamore.

Within a 400-foot radius of 982 Fulton Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, one was in new building development. It was a new building permit issued on November 5, 2020 for a 50,874-square-foot R-2 building with 50 residential units at 108 Downing Street.
Of those four items, two were for major renovation including a certificate of occupancy change. They were two initial temporary certificate of occupancy issuances for projects that initially costed $812,160.0. The most recent of these two items was the temporary certificate of occupancy on February 9, 2021 for a 3,166-square-foot B building with N/A residential units at 18 Putnam Avenue.
One of those four items was a loan which Hudson Companies borrowed $17.0 million from M&T Bank secured by the 33,634-square-foot, 38-unit rental (D7) on 1047 Fulton Street and one other property on June 8, 2020.

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