Jacob Rubin borrows $17M from Signature Bank for multifamily property in Williamsburg

Jacob Rubin through the entity Dov Mann LLC as borrower signed a loan agreement with lender Signature Bank valued at $16.7 million for 1 parcel, including the tax class multifamily, converted (D5) and containing 46 residential units at 65 South 11th Street in Williamsburg. The deal closed on January 13, 2020 and was recorded on January 29, 2020.
The property contains a total of 46,442 square feet of built space.
The average loan per unit is $361,957.
The last time the property sold was June 18, 2004, for $4,300,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 47 residential units on December 18, 2019.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $226,500. Those filings sought to increase the number of residential units by 17 to 47 There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $234,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link