Bruman Realty signs $12.4M refi loan with Signature Bank for new rental in Williamsburg
Bruman Realty through the entity Ainslie Holdings LLC as borrower signed a refi loan with lender Signature Bank valued at $12.4 million for the 27-unit rental (D1) at 52 Ainslie Street in Williamsburg, Brooklyn.
The deal closed on September 10, 2021 and was recorded on September 20, 2021.
The property has 21,956 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $564 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 January 4, 2018, for $5.1 million.
The signatory for Bruman Realty was Joseph Brunner.
(320912312)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 27 residential units on January 5, 2021. (320912312) Plans for a 27-unit, 18,254 square-foot R-2 were filed on April 27, 2018 and were permitted on December 27, 2019.
Within a 400-foot radius of 52 Ainslie 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 April 20, 2021 for a 98,206-square-foot R-2 building with 143 residential units at 134 Hope Street.
Of those 14 items, one was for major renovation including a certificate of occupancy change. It was a permit issued on September 17, 2020 for the $3.3 million renovation of 20,100-square-foot R-1 building with nine residential units at 39 Ainslie St.
Of those 14 items, four were sales above $5 million totaling $124.9 million. The most recent of the four was Steve Dluzyn’s HUBB NYC which bought the 35,113-square-foot, 138-unit rental (D7) on 123 Hope Street for $83.8 million from Adam America Real Estate and Slate Property Group on March 27, 2020.
Of those 14 items, eight were loans above $5 million totaling $197.0 million. The most recent of the eight was Clipper Equity which borrowed $41.8 million from Bank Leumi secured by the 2,112-square-foot, two-unit two-family building (B3) on 426 Rodney Street and two other properties on July 8, 2021.
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