BLDG Management signs $11.2M loan with Provident Bank for retail in Bath Beach

Lloyd Goldman’s BLDG Management through the entity BLDG 86 St Bk LLC as borrower signed a refinance loan with lender Provident Bank valued at $11.2 million for the retail building (K7) at 2076 86th Street in Bath Beach, Brooklyn. The prior loan was $12 million from Signature Bank from 2016.
The deal closed on August 31, 2021 and was recorded on September 13, 2021.
The property has 7,771 square feet of built space and 6,330 square feet of additional air rights for a total buildable of 14,113 square feet according to PincusCo analysis of city data. The loan price per built square foot is $1,442 and the price per buildable square foot is $794 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on 5/20/20, for $17.2 million, but the sale was not recorded until more than a year later, in June 2021.
The signatory for BLDG Management was Lloyd Goldman.
(321188521)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 9, 2020.

Within a 400-foot radius of 2076 86th Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on August 11, 2020 for the $1.7 million renovation of 13,328-square-foot R-2 building with 11 residential units at 2066 85th Street.

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