Joshua Skolnick signs $6.5M rehab construction loan in Carroll Gardens

Joshua Skolnick through the entity 336 Degraw LLC as borrower signed a rehab construction loan with lender First Republic Bank valued at $6.5 million for the 4-family building (C3) at 336 Degraw Street in Carroll Gardens, Brooklyn.
The deal closed on May 19, 2023 and was recorded on June 5, 2023. The property has 3,000 square feet of built space and 1,999 square feet of additional air rights for a total buildable of 4,998 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $2,166 and the price per buildable square foot is $1,300 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on March 5, 2021, for $2.9 million. The signatory for Joshua C. Skolnick was Joshua C. Skolnick.

The property

The 1-4 family building with 4 residential units in Carroll Gardens has 3,000 square feet of built space and 1,999 square feet of additional air rights for a total buildable of 4,998 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,499 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $994,000.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $15,312 in ECB penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of six of the 20 commercial properties representing 22,825 square feet of the 60,446 square feet. The largest owner is Samuel Friedman, followed by Jsaf Management and then Jsaf Capital.
There are no active new building construction projects on this tax block.

The majority, or 91 percent of the 60,446 square feet of built space are mixed-use buildings, with walkup buildings next occupying 9 percent of the space.

Direct link to Acris document. link