Abraham Brach signs $33M refi loan with BridgeCity for 24-unit rental in Williamsburg

Abraham Brach through the entity 425 Marcy Avenue LLC as borrower signed a refi loan with lender BridgeCity Capital through the entity BCC Funding II LLC valued at $33 million for the 24-unit residential elevator building (D6) at 425 Marcy Avenue in Williamsburg, Brooklyn.
The deal closed on October 6, 2025 and was recorded on October 22, 2025. The prior lender was Cirrus Real Estate Partners which held debt that had an original loan amount of $27 million.The property has 60,720 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $543 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Abraham Brach was Abraham Brach. The signatory for BridgeCity Capital was Louis Lebovits .

The property

The residential elevator building with 24 residential units in Williamsburg has 60,720 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 128 feet and is 100 feet deep with a total lot size of 13,800 square feet. The lot is irregular. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $10.9 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation, $9,900 in ECB penalties, and $9,900 in OATH penalties in the last year.

Development

On the lot, there are two active new building construction projects and major alteration projects with initial costs more than $5 million, totaling 75,843 square feet. The largest, 321276445, is a new building project for a 23-unit, 47,351 square-foot R-2 building submitted by Ezra Unger and filed by Zevi Chaskelson with plans filed November 20, 2015 and permitted December 22, 2015. The second largest, 321269845, is a new building project for a 31-unit, 28,492 square-foot R-2 building submitted by Ezra Unger with plans filed November 9, 2015 and permitted December 22, 2015. On the tax lot, the most recent condominium plan was filed by 425 MARCY AVENUE LLC to create 24 residential units and 1 commercial units in a building at 415 Marcy Avenue in Williamsburg, Brooklyn, called 427 Marcy Avenue Condominium that has a $42.8 million sellout, according to an January 04, 2021 submission to the New York State Attorney General. The principal of the sponsor, 425 MARCY AVENUE LLC, was Ezra Unger.

The block

On this tax block, PincusCo has identified the owners of three of the seven commercial properties representing 131,413 square feet of the 146,833 square feet. The two identified owners are Heyme Bleier and Abraham Brach.
On the tax block, there were two new building construction projects totaling 75,843 square feet. The largest is a 23-unit, 47,351 square-foot residential (R-2) building submitted by Ezra Unger and filed by Zevi Chaskelson with plans filed November 20, 2015 and permitted December 22, 2015. The second largest is a 31-unit, 28,492 square-foot residential (R-2) building submitted by Ezra Unger with plans filed November 9, 2015 and permitted December 22, 2015.

The majority, or 89 percent of the 146,833 square feet of built space are elevator buildings, with industrial buildings next occupying 11 percent of the space.

The borrower

The PincusCo database currently indicates that Abraham Brach owned at least eight commercial properties with 186 residential units in New York City with 294,766 square feet and a city-determined market value of $27.3 million. (Market value is typically about 50% of actual value.) The portfolio has $190.1 million in debt, with top three lenders as G4 Capital Partners, BridgeCity Capital, and Cirrus Real Estate Partners respectively. Within the portfolio, the bulk, or 86 percent of the 294,766 square feet of built space are elevator properties, with walkup properties next occupying 11 percent of the space. They are all located in Brooklyn.

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