Stagg Group obtained financing of $37M from Berkadia Commercial Mortgage

Stagg Group through the entity Amanda’S Cove, LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $37.3 million for 40 parcels, including the tax class three-family (C0) and containing 156 residential units at 3227 Hone Avenue, 3469 Bruner Avenue, 3471 Bruner Avenue, 3473 Bruner Avenue, 3475 Bruner Avenue, and others in Bronxwood. The deal closed on June 21, 2019 and was recorded on August 05, 2019.
The property contains a total of 166,722 square feet of built space. The property has 17,331 square feet of available development rights.
The average loan per unit is $239,103.

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

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