Benjamin Schwartz borrows $10M from Flushing Bank for multifamily property in Prospect Lefferts Gardens

Benjamin Schwartz through the entity 25 Lefferts LLC as borrower signed a loan agreement with lender Flushing Bank valued at $10.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 132 residential units at 1125 Washington Avenue also known as 25 Lefferts Avenue in Prospect Lefferts Gardens. The deal closed on November 13, 2019 and was recorded on November 25, 2019.
The property contains a total of 136,892 square feet of built space.
The average loan per unit is $75,758.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $268,680.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link