Kahen Properties borrows $11M from Signature Bank to refi retail property in Brooklyn Heights

Majid Kahen of Kahen Properties through the entity Livingston Equity LLC as borrower signed a loan agreement with lender Signature Bank valued at $11.3 million for 3 parcels, including the tax class retail building with apartments above (K4) and containing 20 residential units at 80 Livingston Street, 86 Livingston Street, 90 Livingston Street in Brooklyn Heights. The deal closed on March 17, 2020 and was recorded on March 30, 2020.
The property has 54,781 square feet of available development rights.

The last time the property sold was July 27, 2015, when Kahen bought it for $23,150,000.

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 were 3 renovation/alteration projects (A2) applied for with a total estimated value of $100,850.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link