Anthony Losquadro obtains $5.5M construction loan from First Republic for East Williamsburg apartment

Anthony Losquadro through the entity Vijax Realty LLC as borrower signed a loan agreement with lender First Republic Bank valued at $5.5 million for 2 parcels, including the tax class miscellaneous garage (G9) at 870 Metropolitan Avenue, 876 Metropolitan Avenue in East Williamsburg. The deal closed on July 2, 2020 and was recorded on July 20, 2020.
The property contains a total of 5,275 square feet of built space. The property has 9,700 square feet of available development rights.
The average loan per buildable square foot is $367.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 14,980 square feet. Those plans include a total of 22 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link