Berl Jacobowitz, Isaac Jacobowitz borrow $45M from Capital One for multifamily property in Williamsburg

Berl Jacobowitz and Isaac Jacobowitz through the entity Waterview Lofts LLC as borrower signed a loan agreement with lender Capital One valued at $45 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 86 residential units at 157 Kent Avenue in Williamsburg. The deal closed on February 5, 2020 and was recorded on February 18, 2020.
The property contains a total of 71,720 square feet of built space.
The average loan per unit is $523,256.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 86 residential (or hotel) units on May 6, 2014.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $557,995. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $434,495.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link