Sentinel Real Estate borrows $15M from New York Community Bank for multifamily property in Brighton Beach

Sentinel Real Estate through the entity 3100 Brighton 2nd Street LLC as borrower signed a loan agreement with lender New York Community Bank valued at $14.9 million for 3 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 312 residential units at 3100 Brighton 2nd Street, 3100 Brighton 2nd Street, 3100 Brighton 2nd Street in Brighton Beach. The deal closed on February 26, 2020 and was recorded on March 18, 2020.
The property contains a total of 101,100 square feet of built space.
The average loan per unit is $47,848.
The last time the property sold was August 30, 2016, for $28,500,000.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $201,940.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link