Jacob Kempler Family Partnership borrows $5M from Santander Bank for multifamily property in Flatbush

David Blau for Jacob Kempler Family Partnership through the entity 580 E. 21st LLC as borrower signed a loan agreement with lender Santander Bank valued at $5.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 64 residential units at 580 East 21st Street in Flatbush. The deal closed on April 7, 2020 and was recorded on April 27, 2020.
The property contains a total of 61,500 square feet of built space.
The average loan per unit is $82,813.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 64 residential (or hotel) units on August 8, 2012.
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 $306,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link