Mendel Gold borrows $7.8M from Arbor Realty Trust for property in Bedford-Stuyvesant

Mendel Gold through the entity Spencer Pl. Realty LLC as borrower signed a loan agreement with lender Arbor Realty Trust through the entity Arbor Commercial Funding I, LLC valued at $7.8 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 14 residential units at 1183 Fulton Street in Bedford-Stuyvesant. The deal closed on January 26, 2021 and was recorded on February 17, 2021.
The property contains a total of 14,334 square feet of built space.
The average loan per unit is $556,357.
The last time the property sold was June 21, 2012 for $820,000.
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The signatory for the buyer or lender was Kenneth Dowling