Michael Niamonitakis borrows $9M from Investors Bank for property in Park Slope

Michael Niamonitakis through the entity M&M Park Slope Realty LLC as borrower signed a loan agreement with lender Investors Bank valued at $9 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 53 residential units at 558 11th Street and 269 Prospect Place in Park Slope. The deal closed on February 23, 2021 and was recorded on March 22, 2021.
The property contains a total of 13,280 square feet of built space.
The average loan per unit is $169,811.
This is an acquisition loan. The last time the property sold was February 23, 2021 when Niamonitakis bought it for $5,700,000.
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.

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