Leopold Kaufman borrows $11M from Popular Bank for multifamily property in Bushwick

Leopold Kaufman through the entity Stanhope St Residence LLC as borrower signed a loan agreement with lender Popular Bank valued at $11.4 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 26 residential units at 18 Stanhope Street in Bushwick. The deal closed on March 26, 2020 and was recorded on March 31, 2020.
The property contains a total of 20,658 square feet of built space.
The average loan per unit is $438,462.
The last time the property sold was December 9, 2014, for $912,500.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 26 residential units on April 26, 2018.
Over the past five years, there have been 2 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 18,501 square feet. Those plans include a total of 26 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link