Besyata Investment Group obtained financing of $15M from Parke Bank

Besyata Investment Group through the entity 1021-1023 38Th Street Development LLC as borrower signed a loan agreement with lender Parke Bank valued at $14.9 million for 2 parcels, including the tax class two-family, brick (B1) and containing 2 residential units at 1021 38 Street, 1023 38 Street in Kensington. The deal closed on June 26, 2019 and was recorded on July 23, 2019.
The property contains a total of 16,809 square feet of built space. The property has 14,749 square feet of available development rights.
The average loan per buildable square foot is $883.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 40,445 square feet. There has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link