Abraham Jeremias borrows $17M from Signature Bank for purchase of rental property in Flatbush

Abraham Jeremias through the entity 141 Lenox Road LLC as borrower signed a loan agreement with lender Signature Bank valued at $17.2 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 186 residential units at 261 Lenox Road, 141 Lenox Road in Flatbush. The deal closed on August 14, 2020 and was recorded on August 18, 2020.
The property has 203,152 square feet of built space and available development rights.
The average loan per unit is $92,339.
Nearly all the debt for the purchase was new. The existing debt on the two properties totaled just $1.5 million. Abraham Jeremias was the signatory.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link