Prana Investments signed a $5.6M loan agreement with Peapack-Gladstone Bank for rental in Bronxwood

Prana Investments through the entity 3021 Holland Ave. LLC as borrower signed a loan agreement with lender Peapack-Gladstone Bank valued at $5.6 million for the 56-unit rental (C1) at 3021 Holland Avenue in Bronxwood, Bronx.
The deal closed on April 16, 2021 and was recorded on April 28, 2021.
The property has 51,040 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $109 per the PincusCo analysis.
The owner bought the property on 19-Feb-16, for $7.7 million.
The signatory for Prana Investments was Richard Herman.

The owners according to the Department of Housing Preservation and Development includes Rick Herman, head officer and Ruth Sarria, site manager. The business entities are Jlp Metro Management Inc. and 3021 Holland Ave, Llc.