Zalmen Management borrows $25M from Signature Bank for property in Bedford-Stuyvesant

Zalmen Management through the entity Ssj Realty Development LLC as borrower signed a loan agreement with lender Signature Bank valued at $24.7 million for the 70-unit rental building at 785 Dekalb Avenue in Bedford-Stuyvesant. The deal closed on September 20, 2019 and was recorded on October 7, 2019.
The property contains a total of 52,430 square feet of built space.
The average loan per unit is $352,143.
The last time the property sold was August 15, 2006, for $2,700,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 70 residential (or hotel) units on February 26, 2016.

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

Share this article