Magen David Yeshivah Secures $30 Million Construction Loan From Bank United For New School In Brooklyn

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.