Prana Investments borrows $10M from Signature Bank form multifamily property in University Heights

Prana Investments through the entity 1917 Andrews Ave. Bronx LLC as borrower signed a loan agreement with lender Signature Bank valued at $9.8 million for 5 parcels, including the tax class multifamily, over six families without stores (C1) and containing 78 residential units at 2287 Loring Place North, 1929 Andrews Avenue South, 1917 Andrews Avenue South, 2318 Loring Place North, 2319 Loring Place North in University Heights. The deal closed on December 10, 2019 and was recorded on January 3, 2020.
The property contains a total of 29,480 square feet of built space.
The average loan per unit is $125,641.
The last time the property sold was January 19, 2016, for $3,951,000.

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

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