Landau Real Estate borrows $5M from Signature Bank for property in Bay Ridge

Landau Real Estate through the entity Hamilton Gatling Estates LLC as borrower signed a loan agreement with lender Signature Bank valued at $5.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 122 residential units at 8831 Ft Hamilton Parkway in Bay Ridge. The deal closed on September 24, 2019 and was recorded on October 3, 2019.
The property contains a total of 119,400 square feet of built space.
The average loan per unit is $40,984.
The last time the property sold was October 16, 2012, for $19,800,000. The prior debt on the building was $11.3 million.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link