Bawabeh Holdings signs $9.8M refi with Interaudi for retail in Bronx, Brooklyn

Bawabeh Holdings through the entity Stealth Acquisitions, LLC as borrower signed a refi loan with lender Interaudi Bank through the entity Interaudi Bank valued at $9.8 million for two properties including the mixed-use building (K2) at 25 Westchester Square in Westchester Square, Bronx and retail building (K1) at 4615 Church Avenue in East Flatbush, Brooklyn.
The deal closed on November 18, 2025 and was recorded on November 24, 2025. The prior lender was Blackstone Group which held debt that had an original loan amount of $10.7 million.The two properties have 24,471 square feet of built space and 5,038 square feet of additional air rights for a total buildable of 29,550 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $400 and the price per buildable square foot is $331 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 Bawabeh Holdings was Soly Bawabeh . The signatory for Interaudi Bank was Christina Cavadas .

Prior sales and revenue

The two properties with a total of 24,471 square feet of built space generated revenue of $1.4 million per year or $57 per square foot.

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 $25 in OATH penalties in the last year.

Development

For the tax lot buildings, one out of the two buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Westchester Square, The bulk, or 30 percent of the 5.3 million square feet of commercial built space are walkup buildings, with office buildings next occupying 18 percent of the space. In sales, Westchester Square has had very little sales volume relative to other neighborhoods with $138 million in sales volume in the last two years. For development, Westchester Square has had very little major development activity relative to other neighborhoods.It had 117,532 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On the tax block of 25 Westchester Square, PincusCo has identified the owners of six of the 10 commercial properties representing 119,095 square feet of the 132,535 square feet. The largest owner is Gontar Management, followed by Bawabeh Holdings and then Eddie Serure.
There are no active new building construction projects on this tax block.

The majority, or 42 percent of the 132,535 square feet of built space are elevator buildings, with mixed-use buildings next occupying 26 percent of the space.

The borrower

The PincusCo database currently indicates that Bawabeh Holdings owned at least four commercial properties in New York City with 55,961 square feet and a city-determined market value of $11.8 million. (Market value is typically about 50% of actual value.) The portfolio has $17.4 million in debt, borrowed from Signature Bank and OceanFirst Bank. Within the portfolio, the bulk, or 37 percent of the 55,961 square feet of built space are mixed-use properties, with office properties next occupying 36 percent of the space. The bulk, or 94 percent of the built space, is in Bronx, with Brooklyn next at 6 percent of the space.

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