Mordechai Kohn signs $27M refi with CTBC Bank for industrial in Red Hook

Mordechai Kohn through the entity Sunlight Clinton Realty LLC as borrower signed a refi loan with lender CTBC Bank valued at $27 million for two industrial properties including the industrial building (E1) at 744 Clinton Street in Red Hook, Brooklyn and industrial building (E1) at 784 Henry Street in Red Hook, Brooklyn.
The deal closed on October 24, 2025 and was recorded on November 10, 2025. The prior lender was FourLeaf Federal Credit Union which held debt that had an original loan amount of $21 million.The two properties have 85,933 square feet of built space and 132,484 square feet of additional air rights for a total buildable of 218,540 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $314 and the price per buildable square foot is $123 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Mordechai Kohn was Mordechai Kohn. The signatory for CTBC Bank was Alvin Ngo .

The property

The parcel has frontage of 265 feet and is 223 feet deep with a total lot size of 59,095 square feet. The zoning is M3-1 which allows for up to 2 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $6.4 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Red Hook, The bulk, or 40 percent of the 11.8 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 24 percent of the space. In sales, Red Hook has near average sales volume among other neighborhoods with $270 million in sales volume in the last two years and is the 27th highest in Brooklyn. For development, Red Hook has had very little major development activity relative to other neighborhoods.It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On the tax block of 744 Clinton Street, PincusCo has identified the owners of six of the six commercial properties representing 150,983 square feet of the 150,983 square feet. The largest owner is Mordechai Kohn, followed by RXR Realty and then LBA Realty.
On the tax block, there was one new building construction project filed totaling 7,500 square feet. It is a 7,500 square-foot storage (S-1) building submitted by Todd Rechler of RXR Realty with plans filed November 4, 2021 and it has not been permitted yet.

All properties are industrial.

The borrower

The PincusCo database currently indicates that Mordechai Kohn owned at least three commercial properties with 54 residential units in New York City with 142,897 square feet and a city-determined market value of $12.5 million. (Market value is typically about 50% of actual value.) The portfolio has $40.9 million in debt, borrowed from Bethpage Federal Credit Union and Parke Bank. Within the portfolio, the bulk, or 60 percent of the 142,897 square feet of built space are industrial properties, with elevator properties next occupying 40 percent of the space. They are all located in Brooklyn.

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