Joel Zupnick buys $1.9M in debt from Valley National Bank on 3-unit Bed-Stuy building

Joel Zupnick through the entity ZBL Management LLC acquired debt with an original loan value of $1.9 million from Valley National Bank secured by 1 parcel, including the tax class three-family (C0) and containing 3 residential units at 96 Tompkins Avenue in Bedford-Stuyvesant. The deal closed on June 28, 2018 and was recorded on June 17, 2020. Zupnick bought the neighboring property, 94 Tomkins Avenue, in 2017.
96 Tompkins contains a total of 3,400 square feet of built space. The property has 7,558 square feet of available development rights.

David Rubinstein bought the property on August 7, 2014, for $1,000,000, and borrowed $500,000, which in November 2015 grew to $1.92 million with a loan from Valley National Bank with Moses Leifer as signatory for the owner entity.

Over the past five years, there have been 2 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 $438,000.There has been one new building permit application totaling 14,549 square feet. Those plans include a total of 12 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link