Bluestone, Sierra Assets borrow $17.5M from Capital One to refi multifamily property in Brooklyn Heights

Bluestone Group and Sierra Assets Group through the entity SB Capital Holdings 141 LLC as borrower signed a loan agreement with lender Capital One (which assigned the debt to Fannie Mae) valued at $17.5 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 47 residential units at 141 Joralemon Street in Brooklyn Heights. The deal closed on June 26, 2020 and was recorded on June 30, 2020.
The property contains a total of 46,410 square feet of built space.
The average loan per unit is $371,277.
The financing includes new debt of $2.59 million. Eli Tabak of Bluestone was the signatory. The last time the property sold was January 31, 2018, for $13,155,572.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $222,250.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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