KMR Equity Partners borrows $12M from First Republic Bank for multifamily property in Park Slope

Kamran Yaghoubzadeh’s KMR Equity Partners through the entity 862 Union Owner LLC as borrower signed a loan agreement with lender First Republic Bank valued at $12.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 49 residential units at 862 Union Street in Park Slope. The deal closed on April 15, 2020 and was recorded on May 7, 2020.
The property contains a total of 35,310 square feet of built space.
The average loan per unit is $244,898.
The last time the property sold was March 30, 2017, for $22,000,000.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $967,264.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link