Yechiel Newhouse borrows $7.6M from New York Community for 58-unit rental in Highbridge

Yechiel Newhouse through the entity 1800 MLK LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.6 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 58 residential units at 1800 University Avenue in Highbridge. The deal closed on January 14, 2021 and was recorded on January 26, 2021.
The property contains a total of 57,500 square feet of built space.
The average loan per unit is $130,603.
The last time the property sold was July 29, 2013 for $6,300,000.
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