Morris Weinberg pays $14.8M to Jacob Hager for rental in Flatbush

Morris Weinberg through the entity 100 East 21 LLC paid $14.8 million to Jacob Hager through the entity 100 East 21st Realty LLC for 84-unit rental (D1) at 100 East 21st Street in Flatbush, Brooklyn.
To finance the purchase, Weinberg signed a $11.1 million acquisition loan with JPMorgan Chase.

The deal closed on December 15, 2021 and was recorded on January 5, 2022.
The property has 86,118 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $171 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 Jacob Hager was Jacob Hager. The signatory for Morris Weinberg was Morris Weinberg.

Morris Weinberg has refinanced four other properties over the past two years in four deals for a total of $29.3 million in debt.
The former owners according to the Department of Housing Preservation and Development included Jacob Hager, head officer and Naftali Hager, officer. The business entity was 100 East 21 Equities Llc.

Within a 400-foot radius of 100 East 21st Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months.
One of those eight items was a sale which Ludovik Benedek bought the 20,156-square-foot, two-unit mixed-use building (K4) on 822 Flatbush Avenue for $6.6 million from Braha Industries on January 22, 2020.
Of those eight items, seven were loans above $5 million totaling $84.0 million. The most recent of the seven was Shamco Management which borrowed $5.8 million from New York Community Bank secured by the 45,486-square-foot, 41-unit rental (D1) on 465 Ocean Avenue on July 20, 2021.

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