Conway Capital signs $8.2M refi with Taurus Asset for three mixed-use buildings in Boerum Hill

Conway Capital through the entity Atlantic Avenue Portfolio Cc LLC as borrower signed a refi loan with lender Taurus Asset Management through the entity LMF Commercial LLC valued at $8.2 million for three mixed-use buildings including the three-unit mixed-use building (S3) at 214 Atlantic Avenue in Boerum Hill, Brooklyn, two-unit mixed-use building (S2) at 218 Atlantic Avenue in Boerum Hill, Brooklyn, and two-unit mixed-use building (S2) at 216 Atlantic Avenue in Boerum Hill, Brooklyn.
The deal closed on July 9, 2021 and was recorded on July 23, 2021.
The three properties have 13,112 square feet of built space and 125 square feet of additional air rights for a total buildable of 13,230 square feet according to PincusCo analysis of city data. The loan price per built square foot is $629 and the price per buildable square foot is $623 per the PincusCo analysis.
The signatory for Conway Capital was Abe Cohen.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $80,740. One of the projects were to change the building from a J-2 to a R-2 and were permitted on March 14, 2018.
Abe Cohen is the president of Conway Capital.
Within a 400-foot radius of 214 Atlantic Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was an initial temporary certificate of occupancy issued on January 21, 2021 for the $530,000 renovation of a residential (R-2) building with six residential units at 163 Court Street.

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