Adam America borrows $30M from Bank Leumi for property in Brooklyn Heights

Adam America Real Estate through the entity Nevins Street Owner LLC as borrower signed a loan agreement with lender Bank Leumi valued at $30 million for 82 parcels, including the tax class other (OT) and containing 80 residential units at 10 Nevins Street in Brooklyn Heights. The deal closed on September 3, 2020 and was recorded on September 11, 2020.
10 Nevins is a condominium project with a current sellout price of $189.7 million, with 184 residential units, according to the New York State Attorney General.

The average loan per unit is $375,000.
The signatory for Adam America was CFO Ron Vaksin. The financing includes $24 million in new debt added to $6 million existing debt.

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