Elliot Horowitz borrows $5M from Signature Bank to refi new multifamily property in Flatbush

Elliot Horowitz through the entity DG 615 E17 LLC as borrower signed a loan agreement with lender Signature Bank valued at $5.2 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 16 residential units at 615 East 17th Street in Flatbush. The deal closed on April 7, 2020 and was recorded on April 23, 2020.
The property contains a total of 13,033 square feet of built space.
The average loan per unit is $327,938.
The last time the property sold was June 2, 2015, for $2,600,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 16 residential units on December 24, 2019.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $70,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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