Bawabeh Brothers borrows $15M from Investors Bank for residential construction in Bedford-Stuyvesant

Bawabeh Brothers through the entity 1190 Fulton Street LLC as borrower signed a new construction loan agreement with lender Investors Bank valued at $14.8 million for 1 parcel, including the tax class one-story store building (K1) at 1245 Bedford Avenue in Bedford-Stuyvesant. The deal closed on June 12, 2020 and was recorded on June 19, 2020.

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 40,165 square feet. Those plans include a total of 30 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