Efthimios Zisimopoulos borrows $14M from G4 Capital Partners for new construction in Bay Ridge

Efthimios Zisimopoulos through the entity 452 87 LLC as borrower signed a loan agreement with lender G4 Capital Partners’ G4 18199, LLC valued at $13.5 million for 1 parcel, including the tax class miscellaneous amusement or recreation including riding academies and stables (P9) at 450 87th Street in Bay Ridge. The deal closed on February 7, 2020 and was recorded on March 17, 2020.
The property contains a total of 18,720 square feet of built space.
The average loan per buildable square foot is $390.
The last time the property sold was December 17, 2014, for $4,000,000.

Over the past five years, there have been 5 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 $363,092. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $775,820.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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