Clairmont Group signs $19.6M refi for nine rentals in Brooklyn

Clairmont Group through the entity Vinegar Hill Asset LLC as borrower signed a refi loan with lender New York Community Bank valued at $19.6 million for nine rentals including the 31-unit rental (C1) at 1226 Lincoln Place in Crown Heights, Brooklyn, 16-unit rental (C1) at 83-85 East 94th Street in East Flatbush, Brooklyn, and 16-unit rental (C1) at 1639 Carroll Street in Crown Heights, Brooklyn.
The deal closed on September 30, 2020 and was recorded on October 27, 2021.
The nine properties have 100,238 square feet of built space and 7,250 square feet of additional air rights according to PincusCo analysis of city data. The loan price per built square foot is $195 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 signatory for Clairmont Group was Ryan Colbert.

Ryan Colbert is a co-founder and managing partner at the Clairmont Group.
The owners according to the Department of Housing Preservation and Development includes Ryan Colbert, head officer and Chesky Engel, officer. The business entity is Vinegar Hill Asset Llc.

Within a 400-foot radius of 226 Pulaski Street, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on March 31, 2020 for the $547,160 renovation of 5,628-square-foot R-2 building with eight residential units at 849 Dekalb Avenue.
Of those five items, four were loans above $5 million totaling $38.1 million. The most recent of the four was Chaim Walter which borrowed $5.2 million from Corevest American Finance Lender secured by the 9,860-square-foot, eight-unit rental (C1) on 236 Pulaski Street and two other properties on May 3, 2021.

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