Joel Schwartz borrows $16M from Ahava Equities for industrial property in Bushwick

Joel Schwartz through the entity Wykoff Sp LLC as borrower signed a loan agreement with lender Ahava Equities LLC valued at $15.5 million for 1 parcel, including the tax class miscellaneous manufacturing building (F9) at 49 Wyckoff Avenue in Bushwick. The deal closed on February 13, 2020 and was recorded on February 24, 2020.
The property contains a total of 38,770 square feet of built space.
The average loan per buildable square foot is $400.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $850,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link