Joel Schwartz borrows $7M from Citi Real Estate Funding Inc. for property in Williamsburg

Joel Schwartz through the entity Grand Street Units LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $7.0 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 14 residential units at 431 Grand Street in Williamsburg. The deal closed on September 25, 2019 and was recorded on October 10, 2019.
The property contains a total of 11,787 square feet of built space.
The average loan per unit is $500,000.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 14 residential (or hotel) units on March 18, 2013.

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

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