Sarabjit Singh Malhotra obtained financing of $5M from FUND INVESTMEMT 105, LLC

Sarabjit Singh Malhotra through the entity 597 BERGEN STREET, LLC as borrower signed a loan agreement with lender FUND INVESTMEMT 105, LLC valued at $5.3 million for 3 parcels, including the tax class unlicenced parking lot (G7) at 597 Bergen Street, Bergen Street, Bergen Street in Prospect Heights. The deal closed on July 10, 2019 and was recorded on July 17, 2019.
The property contains a total of 23,302 square feet of built space. The property has 23,302 square feet of available development rights.
The average loan per buildable square foot is $225.
The last time the property sold was June 20, 2013, for $6,000,000.

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