Jacob Kohn obtained financing of $11M from Prophet Capital REIT

Jacob Kohn through the entity Linden Tb LLC as borrower signed a loan agreement with lender Prophet Capital Reit Inc. valued at $11.0 million for 1 parcel, including the tax class two-family, frame (B2) and containing 68 residential units at 88 Linden Boulevard in Flatbush. The deal closed on July 29, 2019 and was recorded on August 13, 2019.
The property contains a total of 60,259 square feet of built space.
The average loan per unit is $162,096.

The last time the property sold was May 20, 2015, for $2,070,000.

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 has been one new building permit application totaling 47,925 square feet. Those plans include a total of 68 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.

Direct link to Acris document. link

Direct link to the city’s interactive property map, ZOLA. link

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