Steve Cheung signs $7M construction loan with Hirshmark Capital for 72-unit project in Sunset Park

Steve Cheung through the entity E Home Real Estate, LLC as borrower signed a new construction loan with lender Hirshmark Capital through the entity 685 4th Ave Funding Kkc valued at $7 million for the industrial (G7) parcel at 691 4th Avenue in Sunset Park, Brooklyn.
The deal closed on April 9, 2021 and was recorded on June 1, 2021.
The property has 0 square feet of built space and 60,302 square feet of additional air rights for a total buildable of 60,302 square feet according to PincusCo analysis of city data. The loan price per built square foot is $N/A and the price per buildable square foot is $116 per the PincusCo analysis.
Cheung filed plans in 2016 for a 72-unit rental building.
The owner bought the property on 17-Feb-15, for $11.8 million.
The signatory for Steve Cheung was Steve S. Cheung.
Plans were filed in

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