BEB Capital signs $5.6M refi with HSCB Bank for industrial in Bed Stuy

BEB Capital through the entity 1045 Atlantic, LLC as borrower signed a refi loan with lender HSCB Bank valued at $5.6 million for the industrial (F4) at 1041 Atlantic Avenue in Bed Stuy, Brooklyn.
The deal closed on September 15, 2021 and was recorded on September 28, 2021.
The property has 12,066 square feet of built space and 15,344 square feet of additional air rights for a total buildable of 27,400 square feet according to PincusCo analysis of city data. The loan price per built square foot is $464 and the price per buildable square foot is $204 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 November 7, 2019, for $13.5 million.
The signatory for BEB Capital was Bert E. Brodsky.

Bert E. Brodsky is the chairman of the board for BEB Capital.
Within a 400-foot radius of 1041 Atlantic Avenue, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on March 12, 2020 for the $529,585.0 renovation of 3,536-square-foot R-2 building with five residential units at 157 Lefferts Place.

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