Largo Investments borrows $24M from Raymond James Bank for multifamily property in Williamsburg

Nissim Ben-Nun and Nicholas Werner’s Largo Investments through the entity 185 South 4th LLC as borrower signed a loan agreement with lender Raymond James Bank valued at $24 million for 1 parcel containing 42 residential units at 185 South 4th Street in Williamsburg. The deal closed on January 30, 2020 and was recorded on February 10, 2020.
The property contains a total of 71,392 square feet of built space.
The average loan per unit is $571,429.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $100.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link