Chaim Rosenwasser borrows $8M from Investors Bank for property in Flatbush

Chaim Rosenwasser through the entity 744 East 21 Realty LLC as borrower signed a loan agreement with lender Investors Bank valued at $7.6 million for 1 parcel, including the tax class two-family, converted (from one family) (B3) and containing 2 residential units at 744 East 21st Street in Flatbush. The deal closed on September 23, 2019 and was recorded on October 4, 2019.
The property contains a total of 2,706 square feet of built space. The property has 17,300 square feet of available development rights.
The average loan per buildable square foot is $381.
The last time the property sold was March 7, 2019, for $2,550,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 19,923 square feet. Those plans include a total of 29 residential or hotel units. There have been 3 demolition projects filed over the past five years. The demolition included 3 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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