Chana R. Lichtman borrows $9.3M from Bank Leumi for new construction in Midwood

Chana R. Lichtman through the entity 1800 Ocean LLC as borrower signed a loan agreement with lender Bank Leumi valued at $9.3 million for 2 parcels at 1794 Ocean Avenue and 1800 Ocean Avenue in Midwood. The deal closed on June 26, 2020 and was recorded on July 30, 2020.
The property has 14,400 square feet of available development rights.
The average loan per buildable square foot is $388.
This is a new construction loan. Lichtman acquired the properties in 2019 and 2020 for $2.05 million.

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