Lalezarian Properties signs $110M refi with New York Community for 375-unit rental in Downtown Brooklyn

Lalezarian Properties through the entity Brooklyn Gold Spe LLC as borrower signed a refi loan with lender New York Community Bank valued at $110 million for the 375-unit rental (D7) at 257 Gold Street in Downtown Brooklyn, Brooklyn.
The deal closed on May 27, 2021 and was recorded on June 9, 2021.
The property has 326,609 square feet of built space and 0 square feet of additional air rights for a total buildable of 240,378 square feet according to PincusCo analysis of city data. The loan price per built square foot is $336 per the PincusCo analysis.
The owner bought the property on 17-May-07, for $35.4 million.
The signatory for Lalezarian Properties was Kevin Lalezarian.

The owners according to the Department of Housing Preservation and Development includes Kevin Lalezarian, head officer and David Sani, officer. The business entity is Brooklyn Gold Spe Llc.

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