Berel Farkas borrows $13M from Alpine Capital Bank for multifamily property in Prospect Lefferts Gdns

Berel Farkas through the entity New York Avenue Lofts LLC as borrower signed a loan agreement with lender Alpine Capital Bank valued at $12.6 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 37 residential units at 664 New York Avenue in Prospect Lefferts Gdns. The deal closed on March 1, 2020 and was recorded on March 17, 2020.
The property contains a total of 44,945 square feet of built space.
The average loan per unit is $246,622.
The last time the property sold was June 5, 2015, for $8,000,000.

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 $29,990.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link