Sentinel Real Estate borrows $17M from New York Community Bank to refi rental property in Brighton Beach

Sentinel Real Estate through the entity Brightwater 219 LLC as borrower signed a loan agreement with lender New York Community Bank valued at $16.7 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 96 residential units at 231 Brightwater Court, 219 Brightwater Court in Brighton Beach. The deal closed on February 26, 2020 and was recorded on March 31, 2020.
The property contains a total of 45,189 square feet of built space.
The average loan per unit is $174,296.
The last time the property sold was August 30, 2016, for $14,250,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $88,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link