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

arrow_forward_ios
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

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

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

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Texas Republican Rep. Nicholas Van Taylor (Getty, iStock)

Congressman pitching high-risk lifeline for CRE

Congressman pitching high-risk lifeline for CRE
394 Vanderbilt Avenue (Douglas Elliman)

As weather heats up, Brooklyn luxury market doesn’t

As weather heats up, Brooklyn luxury market doesn’t
The threat of eviction hangs heavily above immigrant families who have lost work as a result of the coronavirus pandemic. (Getty)

Eviction bans don’t always protect the most vulnerable

Eviction bans don’t always protect the most vulnerable
Related chairman Stephen Ross and Related Companies Portfolio CEO Richard O’Toole withBronx Terminal Market and Time Warner Center (Getty, Google Maps, Wikipedia)

Related lays out $200M debt settlement plan for Tel Aviv bondholders

Related lays out $200M debt settlement plan for Tel Aviv bondholders
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...