Joseph Brunner’s Bruman Realty through the entity Flushing Condo Holdings LLC as borrower signed a construction loan agreement with lender Centennial Bank valued at $44.5 million for 5 parcels at 367 Flushing Avenue, 365 Flushing Avenue, 361 Flushing Avenue, 347 Flushing Avenue, 345 Flushing Avenue in Williamsburg. The deal closed on September 24, 2019 and was recorded on October 4, 2019.
The loan consists of a $37 million building loan, a $7.3 million project loan and the previous debt of $7.6 million. Brunner assembled the site through three transactions that closed in 2018 totaling $12.42 million. Brunner recently obtained a $130 million loan in Bushwick from Starwood Mortgage Capital.
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. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link