Avi Ben Hamo signs $3.4M construction loan with Bayport Funding for dev site in Bedford Stuyvesant

Avi Ben Hamo through the entity 181 Monroe Ave LLC as borrower signed a land loan with lender Bayport Funding valued at $3.4 million for the development building (V0) at 181 Monroe Street in Bedford Stuyvesant, Brooklyn.
The deal closed on January 16, 2026 and was recorded on January 28, 2026. The property has zero square feet of built space and 5,000 square feet of additional air rights for a total buildable of 5,000 square feet according to a PincusCo analysis of city data. The loan price per buildable square foot is $687 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on July 2, 2025, for $1.5 million. The signatory for Avi Ben Hamo was Avraham Ben Hamo .

The property

The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $246,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $2,250 in ECB penalties and $2,850 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, 321188558, for a seven-unit, 4,990 square-foot residential (R-2) building. The project was submitted by Snir David with plans filed August 28, 2017 and permitted January 21, 2026.

The neighborhood

In Bedford Stuyvesant, The bulk, or 35 percent of the 54.8 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 29 percent of the space. In sales, Bedford Stuyvesant has the 10th highest sale turnover among other neighborhoods in the city with $1.2 billion in sales volume in the last two years. For development, Bedford Stuyvesant has 1.9 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Brooklyn. It had 2.9 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of six of the 10 commercial properties representing 258,995 square feet of the 274,745 square feet. The largest owner is Lihc Investment Group, followed by Jmp Properties and then Robyn Lucas-Cora.
On the tax block, there was one new building construction project filed totaling 4,990 square feet. It is a seven-unit, 4,990 square-foot residential (R-2) building submitted by Snir David with plans filed August 28, 2017 and permitted January 21, 2026.

The majority, or 79 percent of the 274,745 square feet of built space are elevator buildings, with walkup buildings next occupying 15 percent of the space.

The borrower

The PincusCo database currently indicates that Avi Ben Hamo owned at least two commercial properties with 14 residential units in New York City with 10,376 square feet and a city-determined market value of $2.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 53 percent of the 10,376 square feet of built space are mixed-use properties, with walkup properties next occupying 47 percent of the space. They are all located in Brooklyn.

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