Isaac Dahan signs $9.8M refi loan with Argentic in Williamsburg

Isaac Dahan through the entity South 4th Brown DE LLC as borrower signed a refi loan with lender Argentic through the entity Argentic Real Estate Finance LLC valued at $9.8 million for properties including the 20-unit bulk condos (BS) at 370 South 4th Street in Williamsburg, Brooklyn.
The deal closed on August 5, 2021 and was recorded on August 17, 2021.
The properties have 31,788 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $306 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 signatory for Isaac Dahan was Isaac Dahan.
(302356867)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 20 residential units on February 11, 2016.

Within a 400-foot radius of 370 South 4th Street, PincusCo identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, three were for major renovation including a certificate of occupancy change. They were three permit applications with a total initial cost of $1.0 million. The most recent of these three items was the filing on July 9, 2021 for a 4,405-square-foot R-2 building with six residential units at 384 South 5th Street.
One of those four items was a loan which Abraham Grunhut borrowed $5.3 million from Signature Bank secured by the 7,500-square-foot, five-unit rental (C2) on 381 South 3rd Street on June 11, 2021.

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