Largo Investments borrows $54M from Maxim Credit for new construction in Williamsburg

Largo Investments through the entity 215 N 10 Partners LLC as borrower signed a new construction loan agreement with lender Maxim Credit Group valued at $54 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 215 North 10th Street in Williamsburg. The deal closed on February 18, 2020 and was recorded on April 2, 2020.
There has been one new building permit application totaling 64,529 square feet. Those plans include a total of 31 residential units. There have been 4 demolition projects filed over the past five years.

This is a new construction loan. The last time the property sold was March 8, 2018, for $25,000,000.

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 2 renovation/alteration projects (A2) applied for with a total estimated value of $300,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link