Ved Parkash borrows $8M from Sterling National to buy 78-unit rental in Fordham

Ved Parkash through the entity V & S 2055 LLC as borrower signed an acquisition loan agreement with lender Sterling National Bank valued at $8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 78 residential units at 2055 Anthony Avenue in Fordham. The deal closed on October 13, 2020 and was recorded on October 21, 2020.
The property contains a total of 74,580 square feet of built space. The property has 105,380 square feet of available development rights.
The average loan per unit is $102,564.
Parkash bought the property for $11.5 million simultaneously.

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