Bruman Realty obtained financing of $11M from Popular Bank

Bruman Realty through the entity Evergreen Street Realty LLC as borrower signed a loan agreement with lender Popular Bank valued at $10.5 million for 1 parcel, including the tax class fireproof warehouse (E1) and containing 21 residential units at 412 Evergreen Avenue in Bushwick. The deal closed on July 18, 2019 and was recorded on August 19, 2019.
The property contains a total of 41,843 square feet of built space. The property has 16,575 square feet of available development rights.
The average loan per unit is $500,000.
The last time the property sold was January 07, 2016, for $4,500,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 21 residential (or hotel) units on May 21, 2019.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $100,000.There has been one new building permit application totaling 19,171 square feet. Those plans include a total of 21 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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