Prophet Capital sells debt on unsold units of Bed-Stuy condo

Robert Skull, Inc. through the entity Robert Skull Inc. bought the debt from Prophet Mortgage Opportunities Lp secured by 13 parcels, including the tax classes commercial and residential condominium unit (R5 and R4) at 801 Bedford Avenue in Bedford-Stuyvesant. The deal closed on January 6, 2021 and was recorded on January 25, 2021. The condo is being developed by Jacob and Abraham Kohn.

This is for one of three commercial units and 12 of 18 residential units at the new construction condo development at 810 Bedford Avenue, which has a sellout value of $22.6 million, according to the New York State Attorney General. The maximum principal value was $13.5 million, but the value of the sold debt was not disclosed.
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