Joel Lefkowitz borrows $20M from Berkadia Commercial for multifamily property in Gowanus

Joel Lefkowitz through the entity 578 Union LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage valued at $19.9 million for 5 parcels, including the tax class multifamily, over six families without stores (C1) and containing 44 residential units at 578 Union Street, 259 Jefferson Street, 245 Jefferson Street, 99 Clay Street, 97 Clay Street in Gowanus. The deal closed on June 1, 2020 and was recorded on June 10, 2020.
The property has 31,925 square feet of existing and available development rights.
The average loan per unit is $451,636.
The loan package included $3.3 million in new debt.

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