Michael Pintchik up debt by $16M to $22M from BNB Bank for retail in Park Slope

Michael Pintchik through the entity 162-170 Flatbush Associates LLC as borrower signed a loan agreement with lender BNB Bank valued at $22 million for 1 parcel, including the tax class one-story store building (K1) at 162 Flatbush Avenue in Park Slope. The deal closed on August 28, 2020 and was recorded on September 14, 2020.
The property contains a total of 14,687 square feet of built space. The property has 32,426 square feet of available development rights.
The average loan per buildable square foot is $678.
The financing added $16.3 million in new debt.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,567,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $492,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link