Maverick buys $2.15M debt secured by Anthony Lolli-owned property in Sunset Park

Maverick Real Estate Partners bought debt with an original value of $2.15 million secured by a Sunset Park property owned by Rapid Realty founder Anthony Lolli.

The loan is secured by 2 parcels, including the tax class office building with residential apartments (O8) and containing 3 residential units at 681 4th Avenue, 700A 5th Avenue in Sunset Park. The deal closed on August 7, 2020 and was recorded on September 15, 2020.
The property has 13,817 square feet of available development rights.

Anthony Lolli bought the building in 1999. Lolli founded the brokerage Rapid Realty but according to The Real Deal quietly sold his stake in 2018.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $70,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link