Cammeby’s secures $58M loan for 9-story LES resi building

Loan is for company’s 146-unit property at 10 Stanton Street

TRD New York /
Jul.July 19, 2018 10:45 AM

Ruby Schron and 10 Stanton Street (Credit: Apartments)

Cammeby’s International Group has landed a $58.4 million loan for its Lower East Side apartment building at 10 Stanton Street.

The loan comes from Capital One Bank, which assumed the existing $39.5 million loan on the building and provided an $18.9 million gap mortgage, according to property records.

The residential property stands nine stories tall and contains 146 units.

Capital One and Cammeby’s did not immediately respond to requests for comment.

Earlier this year, Taconic Investment Partners received a $260 million loan from Square Mile Capital Management for their Essex Project crossing on the Lower East Side at 202 Broome Street.

Cammeby’s is also working on a massive mixed-use project at 532 Neptune Avenue, which would be the highest building in Coney Island at 40 stories tall. The project also includes a seven-story building at 626 Neptune Avenue for office and retail.

The family firm, led by Ruby Schron and his sons, came in at no. 10 on The Real Deal‘s March list of Brooklyn’s most active developers by square footage.

Related Articles

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Elsa Segura (left) was arrested in connection to realtor Monique Baugh's (right) murder (Credit: iStock)

Second suspect charged in real estate agent’s abduction, murder

Renderings of 130-02 South Conduit Avenue and Triangle Equities’ Joshua Weingarten (Credit: Terminal Logistics)

Triangle Equities lands $87M loan for massive JFK warehouse project

Clockwise from top left: John Gomes, Ronita Kalra, Eric Beniam and McKenzie Ryan (Credit: Getty Images, iStock, Wikipedia)

“We’re putting ourselves in situations where anything is possible”: Real estate agent’s killing rattles industry

From left: 172 Madison Avenue, 100 East 53rd Street, Woolworth Tower, 53 West 53rd Street, 615 10th Avenue

Loan wolves: Bankers are stalking developers as debts come due