Leopold Kaufman borrows $11M from Popular Bank for construction in Bedford-Stuyvesant

Leopold Kaufman through the entity Throop Avenue Residence LLC as borrower signed a new construction loan agreement with lender Popular Bank valued at $10.9 million for 1 parcel at 180 Throop Avenue in Bedford-Stuyvesant. The deal closed on February 24, 2020 and was recorded on March 9, 2020.
The property has 29,059 square feet of available development rights.
The average loan per buildable square foot is $377.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 44,503 square feet. Those plans include a total of 33 residential or hotel units. There have been 2 demolition projects filed over the past five years. The demolition included 6 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link