Juda Falkowitz signs $17.3M construction loan for commercial development in Bedford Stuyvesant

Juda Falkowitz through the entity 67 Taaffe LLC as borrower signed a new construction loan with lender Bank of America valued at $17.3 million for the commercial development at 67 Taaffe Place in Bedford Stuyvesant, Brooklyn.
On the lot, there is one active new building construction project, B00845076, for a 50,196 square-foot commercial building. The project was submitted by Yidel Falkowitz and filed by Yidel Falkowitz with plans filed March 31, 2023 and permitted February 28, 2024. Yidel Falkowitz is an alternate name for Juda Falkowitz.
The deal closed on December 4, 2024 and was recorded on December 23, 2024.
The owner bought the property on August 29, 2013, for $3.1 million. The signatory for Juda Falkowitz was Esther Falkowitz.
Juda Falkowitz is an owner of Quality Facility Solutions (QFS), a company that provides various services and products including construction management, janitorial supplies and labor.

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 $7,500 in ECB penalties and $7,500 in OATH penalties in the last year.

The neighborhood

In Bedford Stuyvesant, The bulk, or 35 percent of the 54.8 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 29 percent of the space. In sales, Bedford Stuyvesant has the 9th highest sale turnover among other neighborhoods in the city with $1.1 billion in sales volume in the last two years. For development, Bedford Stuyvesant has 2.5 times the average amount of major developments relative to other neighborhoods and is the 5th highest in Brooklyn. It had 2.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

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