Abraham Piha borrows $9.95M from TD Bank for small-building portfolio in Brooklyn, Queens

Abraham Piha through the entity 105 Rockaway Pkwy LLC (and others) as borrower signed a loan agreement with lender TD Bank valued at $9.95 million for 12 parcels, including the tax class primarily two family with store or office (S2) and containing 36 residential units at 334 New Lots Avenue, 404 New Lots Avenue, 425 Cleveland Street, 607 Georgia Avenue, 119-16 94th Avenue, and others in Brooklyn and Queens. The deal closed on May 1, 2020 and was recorded on May 28, 2020.
The property has 57,441 square feet of existing and available development rights.
The average loan per unit is $276,389.
The financing includes a gap loan of $2.8 million.

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