Bawabeh Brothers obtained financing of $7M from TD BANK

Bawabeh Brothers through the entity 1732 HANCOCK LLC as borrower signed a loan agreement with lender TD BANK, N.A. valued at $7.0 million for 1 parcel, including the tax class miscellaneous office building (O9) and containing 9 residential units at 17-34 Hancock Street in Ridgewood. The deal closed on June 27, 2019 and was recorded on July 17, 2019.
The property contains a total of 23,990 square feet of built space. The property has 1,200 square feet of available development rights.
The average loan per buildable square foot is $292.
The last time the property sold was November 05, 2007, for $2,120,833.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 9 residential (or hotel) units on June 18, 2019.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $838,200.There has been one new building permit application totaling 22,790 square feet. Those plans include a total of 9 residential or hotel 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

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