Atkins & Breskin borrows $9M from Metropolitan Commercial Bank for new multifamily building in Flatbush

Atkins & Breskin through the entity Flatbush Clarendon LLC as borrower signed a loan agreement with lender Metropolitan Commercial Bank valued at $9.3 million for 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 56 residential units at 2175 Clarendon Road, 1127 Flatbush Avenue in Flatbush. The deal closed on April 15, 2020 and was recorded on April 17, 2020.

The average loan per unit is $165,179.
The building developed by Atkins & Breskin, a development firm founded by Jerry Atkins and Stephen Breskin, was issued an initial temporary certificate of occupancy on August 13, 2019.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $67,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link