Efthimion Zisimopoulos borrows $12M from Dime Community Bank for commercial property in Bay Ridge

Efthimion Zisimopoulos through the entity 437 88 LLC as borrower signed a loan agreement with lender Dime Community Bank valued at $12.3 million for 1 parcel, including the tax class miscellaneous amusement or recreation including riding academies and stables (P9) at 437 88th Street in Bay Ridge. The deal closed on November 25, 2019 and was recorded on December 20, 2019.
The property contains a total of 20,200 square feet of built space.
The last time the property sold was January 29, 2018, for $6,950,000.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $225,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $2,449,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link