Nostrand EG, LLC obtained financing of $6M from Arbor Commercial Funding

Nostrand EG, LLC as borrower signed a loan agreement with lender Arbor Commercial Funding I, LLC valued at $5.7 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 48 residential units at 2992 Nostrand Avenue in Sheepshead Bay. The deal closed on August 30, 2019 and was recorded on September 11, 2019.
The property contains a total of 47,000 square feet of built space.
The average loan per unit is $118,750.
The last time the property sold was May 18, 2016, for $11,500,000.

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

Share this article