Leser Group signs $33.6M refi loan with Metropolitan Commercial for industrial in Ocean Hill

The Leser Group through the entity 2440 Holdings LLC as borrower signed a refi loan agreement with lender Metropolitan Commercial Bank valued at $33.6 million for the industrial (U0) building at 1495 Herkimer Street in Ocean Hill, Brooklyn.
The deal closed on April 13, 2021 and was recorded on April 29, 2021.
The financing added $17.4 million in new debt from the $19.5 million provided in 2015.
The property has 110,000 square feet of built space and 215,450 square feet of additional air rights for a total buildable of 325,500 square feet according to PincusCo analysis of city data. The loan price per built square foot is $305 and the price per buildable square foot is $103 per the PincusCo analysis.
The owner bought the property on 2-Jul-2015, for $33 million.
The signatory for Leser Group was Abraham Leser.
(321589820) Plans for a 0-unit, 325,437 square-foot M were filed on April 3, 2020.