Avraham Garbo signs $9.7M refi with Citibank for two properties in Williamsburg

Avraham Garbo through the entity S4 Lofts 2 LLC as borrower signed a refi loan with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $9.7 million for two properties with 11 residential units including the seven-unit residential walkup building (C7) at 217 South 4th Street in Williamsburg, Brooklyn and four-unit 1-4 family building (C3) at 215 South 4th Street in Williamsburg, Brooklyn. Avraham Garbo is also affiliated with Garbo & Company.
The deal closed on July 24, 2025 and was recorded on July 31, 2025. The prior lender was S3 Capital which held debt that had an original loan amount of $7.5 million.The two properties have 9,956 square feet of built space and 1,017 square feet of additional air rights according to a PincusCo analysis of city data. The loan price per built square foot is $974 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 signatory for Avraham Garbo was Avraham Garbo. The signatory for Citibank was Anna Gutteridge .

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 215 South 4th Street.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Abe Garbo, head officer and Moshe Deutsch, officer. The business entity is S4 Lofts 2 Llc.

The property

The 1-4 family building with 4 residential units in Williamsburg has 9,956 square feet of built space and 1,017 square feet of additional air rights according to a PincusCo analysis of city data. The parcel has frontage of 21 feet and is 95 feet deep with a total lot size of 1,995 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.5 million. The most recent loan totaled $6 million and was provided by S3 Capital on June 27, 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one housing violation and $540 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 215 South 4th Street, PincusCo has identified the owners of eight of the 19 commercial properties representing 109,168 square feet of the 167,410 square feet. The largest owner is Jochen Becker, followed by Gilman Management and then Regina Pollak.
There are no active new building construction projects on this tax block.

The majority, or 51 percent of the 167,410 square feet of built space are walkup buildings, with mixed-use buildings next occupying 30 percent of the space.

The borrower

The PincusCo database currently indicates that Avraham Garbo owned at least eight commercial properties with 42 residential units in New York City with 59,543 square feet and a city-determined market value of $10 million. (Market value is typically about 50% of actual value.) The portfolio has $6 million in debt, borrowed from S3 Capital. Within the portfolio, the bulk, or 36 percent of the 59,543 square feet of built space are walkup properties, with industrial properties next occupying 34 percent of the space. The bulk, or 83 percent of the built space, is in Brooklyn, with Queens next at 17 percent of the space.

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