Laboz family refis retail building in Brooklyn Heights with $7.3M loan

The Laboz family’s United American Land through the entity 447 Fulton LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.3 million for 1 parcel, including the tax class retail building (K4) at 447 Fulton Street in Brooklyn Heights. The deal closed on June 25, 2020 and was recorded on October 30, 2020.
The property contains a total of 9,094 square feet of built space. The property has 48,452 square feet of available development rights.
The average loan per buildable square foot is $151.
The interest rate was set at 3.50%. The prior maximum debt was $8.5 million lent in 2013.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $461,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was John Feijoo

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