Machzikei Hadas refis $14M with Sterling National for school in Kensington

Congregation and Yeshiva Machzikei Hadas through the entity as borrower signed a loan agreement with lender Sterling National Bank valued at $14.1 million for 6 parcels, including the tax class parochial schools, yeshivas (W2) at 1601 42nd Street, 4107 16th Avenue, 4105 16th Avenue, 4103 16th Avenue, 1612 41st Street, and others in Kensington. The deal closed on March 9, 2021 and was recorded on March 17, 2021.
The property has 118,412 square feet of built space and available development rights.
The average loan per buildable square foot is $119.

Direct link to Acris document. link
The signatory for the lender was Michael Savarese.