Gladiator gets $30M in new debt for commercial in East Williamsburg

Gladiator Realty through the entity Grand Morgan Equities LLC as borrower signed an initial loan with lender Signature Bank valued at $30 million for the (F1) property at 272 Morgan Avenue in East Williamsburg, Brooklyn.
The deal closed on May 25, 2021 and was recorded on June 4, 2021.
The property has 183,515 square feet of built space and 0 square feet of additional air rights for a total buildable of 78,500 square feet according to PincusCo analysis of city data. The loan price per built square foot is $163 per the PincusCo analysis.
The entity Grand Morgan Equities or a related entity has owned the parcel for decades and this is the first debt recorded at the property in decades.
The signatory for Gladiator Realty was Lazar Muller. The signatory for Signature Bank was Sonia Arias.
(321138773)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on January 12, 2016.
Lazar Muller is CEO of Gladiator Realty.

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