Triumph Real Estate borrows $8M from Santander Bank for multifamily property in Forest Hills

Shimmie Horn’s Triumph Real Estate through the entity Burns Management Co. LLC as borrower signed a loan agreement with lender Santander Bank valued at $7.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 228 residential units at 68-09 Burns Street in Forest Hills. The deal closed on March 10, 2020 and was recorded on March 12, 2020.
The property contains a total of 174,480 square feet of built space.
The average loan per unit is $32,895.

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