Leser Group borrows $55M from Axos Bank for multifamily property in Kensington

Abraham Leser’s Leser Group through the entity Mapleton Group LLC as borrower signed a loan agreement with lender Axos Bank valued at $55.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 143 residential units at 1560 60th Street in Kensington. The deal closed on December 31, 2019 and was recorded on January 8, 2020.
The property contains a total of 209,512 square feet of built space. The property has 210,916 square feet of available development rights.
The average loan per unit is $384,615.
The last time the property sold was April 17, 2013, for $17,500,000.

Over the past five years, there have been 14 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There have been 13 new building permit applications totaling 208,960 square feet. Those plans include a total of 128 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link