Simcha Applegrad obtained financing of $7M from Signature Bank

Simcha Applegrad through the entity Bx 2860 LLC as borrower signed a loan agreement with lender Signature Bank valued at $7.0 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 46 residential units at 2860 Decatur Avenue in Riverdale. The deal closed on July 29, 2019 and was recorded on August 09, 2019.
The property contains a total of 47,950 square feet of built space. The property has 600 square feet of available development rights.
The average loan per unit is $152,174.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link