Joel Lefkowitz borrows $12M from Berkadia Commercial for property in East Williamsburg

Joel Lefkowitz through the entity 241 Jefferson Street LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $11.8 million for 4 parcels, including the tax class four families (C3) and containing 21 residential units at 296 Powers Street, 1687 Gates Avenue, 871 Hart Street, 241 Jefferson Street in East Williamsburg. The deal closed on June 18, 2020 and was recorded on June 24, 2020.
The property has 22,750 square feet of built space and available development rights.
The average loan per unit is $519.
The financing includes $2.25 million in new debt.

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 $275,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link