Top renters in Brooklyn, the Bronx and Queens were favored by more real estate lenders last month than those in Manhattan.
The 10 largest real estate loans recorded in the three boroughs in October totaled $417 million, $477 million in September However, lenders diversified only $359 million, about half of the September total.
Brooklyn’s residential, industrial, and hospitality properties each occupy the top three spots. Below are the details for each of the top 10.
Vinegar bills | Stock Photo Vinegar bills Brooklyn | Brooklyn $99 million
Cheskel Schwimmer’s Chess Builders Receives $99 Million in Construction and Gap Financing Valley National Bank A 7-story mixed-use development with 218 homes, 218 Front Street Located in Vinegar Hill. Valley National also underwrote his $36 million acquisition loan initiated by Popular Bank last year.
Cash Canal | Stock Photo Cash Canal Brooklyn | Brooklyn $80 million
Scott Rechler’s RXR Realty and LBA Logistics Bank OZK To be built at 722 and 730 Court Street, Red Hook, near the mouth of the Gowanus Canal. The lots are 37,000 square feet and 49,000 square feet respectively. The joint venture submitted plans for a small one-story building at 730 Court Street after acquiring the site last year as part of the courthouse. $123 million contract For a large waterfront industrial portfolio financed by Bank OZK. The land is zoned for manufacturing.
JFK Stopover | Queens | Queens $44 million
Hospitality company ASAP Holdings has secured $43.7 million from an Atlanta-based firm. Stonehill Strategic Capital Refinance of the debt of the Hampton Inn Hotel in Key 216 near JFK Airport at 144-10 135th Avenue in South Ozone Park. The loan includes approximately $9 million in new financing and replaces debt previously held by Wells Fargo.
Jamaica My Day | Queens | Queens $35 million
George Xu’s Century Development Group webster bank, including $5.2 million of new debt for the refinancing of a 109-unit apartment complex called Archer House located at 148-37 88th Street in Jamaica, Queens. The building was completed last year and the loan replaces debt held by Berkshire Residential Investments.
Senior Loans | Queens | Queens $32M
David Marks marx development secured $32 million, including $23 million in Gap financing, from bankwell bank Protected in a 146,000 square foot nursing home located at 33-23 Union Street, Flushing, Queens. This loan replaces debt held by Capital One Multifamily Finance.Marx in recent times sold old age home For $40.4 million to Sentosa Care in East New York.
BRUNNER’S BROOKLYN | $27.5 MILLION
Joseph Brunner received $27.5 million, including $10.7 million of new debt, from webster bank Refinancing of a 61-unit multifamily home at 125 Kings Hwy in Gravesend, Brooklyn. The loan for the building completed this year replaces debt held by the Investors Bank.
Under New Management | Bronx | Bronx $26 Million
Ayush Kapahi received $25.8 million from popular bankThis includes $11 million in new Gap financing for the development of a 91-unit multifamily home at 218 Bush Street in Tremont, Bronx. Kapahi is known as a principal at HKS Capital Advisors, although the property owner he signed as a manager at Anthony Bush Development LLC. Stagg Group’s Michael Froning recently applied for an electrical permit for the eight-story, 61,000-square-foot project. first proposed By Kim Tasher, SKF Development, 2018.
Buy Bed-Stuy | Brooklyn | Brooklyn $25 Million
Affiliates of SKW Funding and Dalan Management received $25 million from the company. merged bank buy 1520 Fulton Street44-unit multifamily home in Bedford-Stuyvesant, $34.5 million. The 68,000-square-foot building was completed in 2015.
Rental Refinancing | Bronx | Bronx $25M
Lai-ho Chen’s Coralton Realty raises $24.8 million, including $5.4 million in gap financing BCB Bank Refinancing of 3120 Corlear Avenue, a 10-story 48-unit apartment complex in Kingsbridge, Bronx. According to city records, the building measures 65,500 square feet.
Senior Debt | Bronx | Bronx $24M
Fieldston Lodge Nursing and Rehabilitation Center raises $23.8 million Newpoint Real Estate Capital, including a newly structured $5 million fund secured by 666 Kappock Street, a 69,000-square-foot nursing home in Spyten-Dyville in the Bronx. David Landa has signed a loan to replace debt held by Banco Popular.