Chaim Simkowitz borrows $8.5M from Sterling National Bank for property in East New York

Chaim Simkowitz through the entity 2045 Linden LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $8.5 million for 1 parcel, including the tax class public elementary junior and senior high schools (W1) at 2045 Linden Boulevard in East New York. The deal closed on March 25, 2021 and was recorded on April 13, 2021.
The property contains a total of 42,112 square feet of built space.
The average loan per buildable square foot is $202.
The last time the property sold was August 30, 2017 for $10,975,000.
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 $460,000.

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