Luke Gjushi borrows $15.8M from Northeast Community for property in Highbridge

Luke Gjushi through the entity Featherbed Development LLC as borrower signed a loan agreement with lender Northeast Community Bank valued at $15.8 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 29 Featherbed Lane in Highbridge. The deal closed on August 18, 2020 and was recorded on September 14, 2020.

This is a new construction loan. The last time the property sold was March 21, 2016, for $601,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There have been 2 new building permit applications totaling 150,601 square feet. Those plans include a total of 219 residential units. There have been 4 demolition projects filed over the past five years. The demolition included 3 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link