Louis T. Young borrows $8M from Oceanfirst Bank for new multifamily property in Bushwick

Louis T. Young through the entity Harman Service Inc. as borrower signed a loan agreement with lender Oceanfirst Bank N.A. valued at $7.5 million for 1 parcel, including the tax class light manufacturing building (F5) and containing 32 residential units at 379 Harman Street in Bushwick. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 29,648 square feet of built space.
The average loan per unit is $234,375.
The last time the property sold was March 28, 2017, for $300,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 32 residential units on February 27, 2020.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link