Chaim Wurzberger borrows $6M from BNB Bank for property in East Flatbush

Chaim Wurzberger through the entity 3208 Glenwood LLC as borrower signed a loan agreement with lender BNB Bank valued at $5.7 million for 2 parcels, including the tax class two-family, miscellaneous (city type, old, etc.) (B9) and containing 18 residential units at 3206 Glenwood Road, 3208 Glenwood Road in East Flatbush. The deal closed on September 17, 2019 and was recorded on September 26, 2019.
The property contains a total of 1,163 square feet of built space. The property has 4,601 square feet of available development rights.
The average loan per unit is $318,056.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $25,000.There has been one new building permit application totaling 6,314 square feet. Those plans include a total of 9 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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