Benzion Eisenberg borrows $5M from Ellington Management for multifamily in Sheepshead Bay

Benzion Eisenberg through the entity 1711 East 15 Street LLC as borrower signed a loan agreement with lender Ellington Management Group’s EPO II SBC 2018-1 LLC valued at $5 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 12 residential units at 1711 East 15th Street in Sheepshead Bay. The deal closed on July 21, 2020 and was recorded on August 5, 2020.
The property contains a total of 10,240 square feet of built space. The property has 12,010 square feet of available development rights.
The average loan per unit is $416,667.
The last time the property sold was March 4, 2014, for $2,750,000.

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 $37,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link