Klein’s Naturals signs $6.8M refi with Ameritas for industrial in Sunset Park

Klein’s Naturals through the entity N.F.C. LLC as borrower signed a refi loan with lender Ameritas Mutual Holding Company through the entity Ameritas Life Insurance Corp. valued at $6.8 million for the industrial building (E9) at 4702 2nd Avenue in Sunset Park, Brooklyn.
The deal closed on May 8, 2025 and was recorded on May 23, 2025. The prior lender was Bank of America which held debt that had an original loan amount of $2.8 million.The property has 32,057 square feet of built space and 45,054 square feet of additional air rights for a total buildable of 77,016 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $212 and the price per buildable square foot is $88 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 signatory for Klein’s Naturals was Zvi Klein . The signatory for Ameritas Mutual Holding Company was Anthony M. Spurlock . Klein’s Naturals

The property

The industrial building in Sunset Park has 32,057 square feet of built space and 45,054 square feet of additional air rights for a total buildable of 77,016 square feet according to a PincusCo analysis of city data. The parcel has frontage of 95 feet and is 405 feet deep with a total lot size of 38,508 square feet. The zoning is M3-1 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $3.7 million.

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 $100 in OATH 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 neighborhood

In Sunset Park, The bulk, or 30 percent of the 35 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 26 percent of the space. In sales, Sunset Park has 1.6 times the average sales volume among other neighborhoods with $441.2 million in sales volume in the last two years and is the 14th highest in Brooklyn. For development, Sunset Park has had very little major development activity relative to other neighborhoods.It had 199,028 square feet of commercial and multi-family construction under development in the last two years, which represents 0.57 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of one of the 10 commercial properties representing 15,298 square feet of the 91,213 square feet. The identified owner is John Galina.
There are no active new building construction projects on this tax block.

The majority, or 99 percent of the 91,213 square feet of built space are industrial buildings, with specialty buildings next occupying 1 percent of the space.

Direct link to Acris document. link