David and Michael Nektalov borrow $19.6M from New York Community Bank for multifamily property in Midwood

January 27, 2020 6:45 am

David and Michael Nektalov signed a loan agreement with lender New York Community Bank valued at $19.6 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 140 residential units at 1102 Avenue K, 1201 Avenue K in Midwood. The deal closed on January 15, 2020 and was recorded on January 24, 2020.
The properties hasve 138,084 square feet of available development rights.
The average loan per unit is $140,257.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 66 residential units on April 4, 2013.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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