Farhad Bokhour signs $9M construction loan with Unitas Funding for 6-unit development in Boerum Hill

Farhad Bokhour through the entity 235 Pacific LLC as borrower signed a new construction loan with lender Unitas Funding through the entity Unitas Funding LLC valued at $9 million for the six-unit development project at92 Boerum Place, also known as 235-237 Pacific Street in Boerum Hill, Brooklyn.

On the lot, there is one active new building construction project, B01188539, for a six-unit, 11,214 square-foot residential (R-2) building. The project was submitted by Farhad Bokhour with plans filed March 18, 2025 and permitted January 2, 2026.
The loan closed on April 7, 2026 and was recorded on April 23, 2026. The loan price per planned construction square foot is $802 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on December 11, 2024, for $2.5 million. The signatory for Farhad Bokhour was Farhad Bokhour.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $2,310 in ECB penalties and $2,970 in OATH penalties in the last year.

The neighborhood

In Boerum Hill, The bulk, or 32 percent of the 9 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 16 percent of the space. In sales, Boerum Hill has 2.1 times the average sales volume among other neighborhoods with $719.4 million in sales volume in the last two years and is the 9th highest in Brooklyn. For development, Boerum Hill has 1.7 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Brooklyn. It had 2.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 30 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of eight of the 14 commercial properties representing 64,728 square feet of the 156,859 square feet. The largest owner is A&E Real Estate Holdings, followed by Saleh Mugalli and then Mark Koplowitz.
On the tax block, there were two new building construction projects totaling 16,488 square feet. The largest is a six-unit, 11,214 square-foot residential (R-2) building submitted by Farhad Bokhour and filed by Farhad Bokhour with plans filed March 18, 2025 and permitted January 2, 2026. The second largest is a four-unit, 5,274 square-foot residential (R-2) building submitted by Farhad Bokhour with plans filed December 15, 2020 and it has not been permitted yet.

The majority, or 63 percent of the 156,859 square feet of built space are mixed-use buildings, with walkup buildings next occupying 30 percent of the space.

The borrower

The PincusCo database currently indicates that Farhad Bokhour owned at least seven commercial properties with 61 residential units in New York City with 63,034 square feet and a city-determined market value of $27.4 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 70 percent of the 63,034 square feet of built space are walkup properties, with elevator properties next occupying 17 percent of the space. The bulk, or 72 percent of the built space, is in Brooklyn, with Manhattan next at 27 percent of the space.

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