Joel Zupnick and Eli Pavel borrow $10M from TD Bank for property in Flatbush

Joel Zupnick and Eli Pavel through the entity 171 Linden Boulevard Holdings LLC as borrower signed a loan agreement with lender Td Bank valued at $10.0 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 29 residential units at 171 Linden Boulevard in Flatbush. The deal closed on October 11, 2019 and was recorded on October 25, 2019.
The property contains a total of 28,482 square feet of built space.
The average loan per unit is $344,828.
The last time the property sold was May 9, 2016, for $2,830,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 29 residential units on May 16, 2019.
Over the past five years, there have been 4 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 $3,200,000. Those filings sought to increase the number of residential units by 25 to 31 There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $548,421.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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