Courts roundup: Four pre-foreclosures in Manhattan, Brooklyn totaling $12M

$4M pre-foreclosure for Harlem retail: The retail condo at 1885 Lexington Avenue in East Harlem, Manhattan has 3,330 square feet of built space according to a PincusCo analysis of city data. PincusCo cannot determine the lot area of the 145 East 117 Street parcel at this time. The property has a 421A exemption that started in 2014 and expires in 2039. The city-designated market value for the property in 2022 is $477,000. LINK

$3.6M pre-foreclosure for Prospect Lefferts Gardens mixed-use: NuBridge Commercial Lending filed to foreclose on a $3.6 million loan secured by two mixed-use buildings at 604 Flatbush Avenue and 604A Flatbush Avenue in Prospect Lefferts Gardens. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for one of the properties in 2022 is $732,000. LINK

$2.5M pre-foreclosure for Chinatown mixed-use building: Titan Capital ID filed to foreclose on 18 Bowery in Chinatown, a mixed-use building with 5 residential units in Chinatown has 8,142 square feet of built space and 450 square feet of additional air rights for a total buildable of 8,600 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The lot is irregular. The zoning is C6-1 which allows for up to 6 times floor area ratio (FAR) for commercial and up to 3.44 times FAR for residential. The city-designated market value for the property in 2022 is $1.6 million. LINK

$2.5M pre-foreclosure for Chinatown mixed-use building: Community Loan Servicing filed to foreclose on 420 Eastern Parkway in Crown Heights, Brooklyn, a walkup building with 15 residential units with 16,300 square feet of built space and 3,026 square feet of additional air rights for a total buildable of 19,354 square feet according to a PincusCo analysis of city data. The property is owned by Sylvester Drew. The parcel has frontage of 42 feet and is 185 feet deep with a total lot size of 7,965 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $873,000. LINK

Direct link to the property’s ACRIS page and link to DOB NOW portal.