Gerald M. Pindus borrows $6M from Flushing Bank for property in Flatbush

Gerald M. Pindus through the entity 180 East 17th Street Company, LLC as borrower signed a loan agreement with lender Flushing Bank valued at $5.9 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 90 residential units at 180 East 17th Street in Flatbush. The deal closed on September 26, 2019 and was recorded on October 3, 2019.
The property contains a total of 86,262 square feet of built space. The property has 15,845 square feet of available development rights.
The average loan per unit is $65,833.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $40,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article