Elias Kefalidis’s KLM Equities borrows $18M from BNB Bank for property in Flatiron

Elias Kefalidis’s KLM Equities through the entity Ekfh LLC as borrower signed a loan agreement with lender BNB Bank valued at $17.5 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) and containing 2 residential units at 95 5th Avenue in Flatiron. The deal closed on September 30, 2019 and was recorded on October 4, 2019.
The property contains a total of 22,324 square feet of built space. The property has 2,620 square feet of available development rights.
The average loan per buildable square foot is $702.
The last time the property sold was September 2, 2005, for $8,119,300.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 2 residential (or hotel) units on October 5, 2012.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $1,042,900.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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