Rrustem Gecaj borrows $7.2M from Signature Bank for multifamily property in Riverdale

Rrustem Gecaj through the entity 3424 Dekalb Associates, LLC as borrower signed a loan agreement with lender Signature Bank valued at $7.2 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 65 residential units at 3424 Dekalb Avenue in Riverdale. The deal closed on July 2, 2020 and was recorded on July 29, 2020.
The property contains a total of 65,000 square feet of built space. The property has 76,310 square feet of available development rights.
The average loan per unit is $110,385.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $45,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link