Updated Jul 16, 2026
Magen David Yeshivah Secures $30 Million Construction Loan From Bank United For New School In Brooklyn
2130 Mcdonald Avenue, 1905, 1911 & 1915 Mcdonald Avenue, Brooklyn, Ny 11223, 1905 Mcdonald Avenue, 1911 & 1915 Mcdonald Avenue, Brooklyn, Ny 11223, 1911 Mcdonald Avenue & 1915 Mcdonald Avenue
$30,000,000
Building Size
—
Asset Type
Special Purpose
Closing
Jul 15, 2026
About this deal
AI
The property involved in the transaction is a special purpose asset located at 2130 McDonald Avenue and 1905, 1915 McDonald Avenue in Brooklyn. Magen David Yeshivah is funding a new Sephardic high school with a construction loan amounting to $30 million secured from Bank United. The deal for this construction loan was approved by New York’s attorney general.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $30,000,000
- Lender: Bank United
- Landlord: Magen David Yeshivah
- Date: 07/15/2026
- Market: Brooklyn
Key individuals involved in the deal include Jeff Sutton, who may be affiliated with the transaction in terms of financial arrangement or support in the property development process. The loan is specifically aimed at developing an educational institution within the Gravesend neighborhood, reflecting the commitment of Magen David Yeshivah to enhance the community's educational infrastructure.
On the Map
$30,000,000
Special Purpose
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Brooklyn Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93