Joshua Markovics’s Royal Builders borrows $12M from Investors Bank for new construction in Sheepshead Bay

Joshua Markovics’s Royal Builders through the entity Emac Re LLC as borrower signed a loan agreement with lender Investors Bank valued at $11.6 million for 3 parcels, including the tax class two-family, frame (B2) and containing 6 residential units at 1780 Sheepshead Bay Road, 1782 Sheepshead Bay Road, 1784 Sheepshead Bay Road in Sheepshead Bay. The deal closed on December 31, 2019 and was recorded on January 14, 2020.

The last time the property sold was February 12, 2019, for $6,300,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $40,000.There has been one new building permit application totaling 30,856 square feet. Those plans include a total of 23 residential units. There has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link