Harry Einhorn gets $26M construction loan from Popular Bank for 76-unit project in Flatbush

Harry Einhorn through the entity Flatbush Caton LLC as borrower signed a construction loan agreement with lender Popular Bank valued at $26 million for a 76-unit residential development project at 815 Flatbush Avenue in Flatbush. The deal closed on August 26, 2020 and was recorded on September 3, 2020.
There has been one new building permit application totaling 62,800 square feet. That plan includes a total of 76 residential units and was permitted in July. There has been one demolition project filed for the parcels over the past five years.
The average loan per buildable square foot is $414.
The financing includes a $17.5 million building loan, a $3.2 million project loan and a refinance of $5.3 million land loan.

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