Abraham Friedrich borrows $10.6M from Berkadia for new 33-unit rental in Crown Heights

Abraham Friedrich through the entity Bergen Square LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $10.6 million for 1 parcel, including the tax class land zoned residential, except not Manhattan below 110th Street (V0) and containing 33 residential units at 1613 East New York Avenue in Crown Heights. The deal closed on September 22, 2020 and was recorded on October 2, 2020.
The property contains a total of 26,907 square feet of built space.
The average loan per unit is $320,455.
The last time the property sold was July 11, 2018, for $580,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 33 residential units on February 13, 2020.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link