Bonjour Capital signs $30.7M refi loan with NewPoint for rental in Brooklyn Heights

Bonjour Capital through the entity Bh 1 Cd LLC as borrower signed a refi loan with lender NewPoint through the entity Newpoint Real Estate Capital LLC valued at $30.7 million for the 62-unit rental (D7) at 172 Montague Street in Brooklyn Heights, Brooklyn.
The deal closed on November 4, 2021 and was recorded on November 19, 2021.
The property has 65,479 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $468 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 June 30, 2012, for $417,482.
The signatory for Bonjour Capital was Charles Dayan.
(320501578)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 62 residential units on August 26, 2015. (320501578) Plans for a 62-unit, 65,479 square-foot R-2 were filed on June 28, 2012 and were permitted on July 1, 2013.
The owners according to the Department of Housing Preservation and Development includes Moses Berkowitz, head officer and Abe Friedman, agent. The business entities are Bh 1 Cd Llc and Bh 1 Cd Llc.

Within a 400-foot radius of 172 Montague Street, PincusCo identified 14 commercial real estate items of interests occurred over the past 24 months.
Of those 14 items, one was in new building development. It was a new building permit issued on February 5, 2021 for a 110,000-square-foot R-2 building with 121 residential units at 200 Montague Street.
Of those 14 items, four were for major renovation including a certificate of occupancy change. They were two permits with a total initial cost of $4 million and two initial temporary certificate of occupancy issuances for projects that initially costed $657,507.0. The most recent of these four items was the permit on April 9, 2021 for a 22,691-square-foot B building with 0 residential units at 131 Remsen Street.
Of those 14 items, nine were loans above $5 million totaling $382.4 million. The most recent of the nine was Treeline Companies which borrowed $55.8 million from Fortress Investment Group secured by nine condo units in the 19,797-square-foot, 16-unit office building (RB) on 195 Montague Street on October 5, 2021.

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