Israel Perlmutter borrows $13M from Levon Capital Tristate for property in Williamsburg

Israel Perlmutter through the entity South 4 Residence LLC as borrower signed a loan agreement with lender Levon Capital Tristate through its NY Cdxix LLC valued at $13.0 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 20 residential units at 364 Bedford Avenue in Williamsburg. The deal closed on September 25, 2019 and was recorded on October 24, 2019.
The property contains a total of 26,902 square feet of built space.
The average loan per unit is $650,000.
The last time the property sold was August 13, 2013, for $11,707,159.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 18 residential (or hotel) units on July 23, 2014.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $1,378,440.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link