Kiumarz Geula borrows $5.7M from Bethpage Federal for property in Far Rockaway

Kiumarz Geula through the entity 710 Hartman LLC as borrower signed a loan agreement with lender Bethpage Federal Credit Union valued at $5.7 million for 2 parcels, including the tax class miscellaneous educational (W9) at 25-40 Beach Channel Drive and Ocean Crest Boulevard in Far Rockaway. The deal closed on July 1, 2020 and was recorded on September 4, 2020.
The property has 39,640 square feet of available development rights, according to an analysis of public data.
The average loan per buildable square foot is $144.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link