Maheen Farrukh borrows $5M from PCSB Bank for multifamily property in Highbridge

Maheen Farrukh through the entity Global Heights Apartments, In.c as borrower signed a loan agreement with lender PCSB Bank valued at $5.4 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 32 residential units at 939 Summit Avenue, 935 Summit Avenue, 933 Summit Avenue, 931 Summit Avenue in Highbridge. The deal closed on February 18, 2020 and was recorded on May 11, 2020.
The property has 26,293 square feet of available development rights.
The average loan per unit is $168,750.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 8 residential (or hotel) units on April 6, 2015.

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