Moses Karpen signs $12.3M refi with Parke Bank for 17-unit walkup in Williamsburg

Moses Karpen through the entity 141 Ross Street Holdings LLC as borrower signed a refi loan with lender Parke Bank valued at $12.3 million for the 17-unit residential walkup building (C7) at 141 Ross Street in Williamsburg, Brooklyn.
The deal closed on June 18, 2025 and was recorded on June 27, 2025. The prior lender was BridgeCity Capital which held debt that had an original loan amount of $10.8 million.

The property has 20,800 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $592 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 owner bought the property on April 9, 2024, for $14.6 million. The signatory for Moses Karpen was Moses Karpen. The signatory for Parke Bank was Renee L. D’Orazio .

The property

The residential walkup building with 17 residential units in Williamsburg has 20,800 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 58 feet and is 100 feet deep with a total lot size of 5,854 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3.5 million. The most recent loan totaled $10.8 million and was provided by BridgeCity Capital on April 9, 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation and $1,050 in OATH penalties in the last year.

Development

On the lot, there is one active major alteration construction project, B01154661, for a 17-unit, 24,512 square-foot R-2 building. The project was submitted by Moses Karpen with plans filed March 5, 2025 and permitted May 22, 2025.

The block

On this tax block, PincusCo has identified the owners of four of the 15 commercial properties representing 72,550 square feet of the 152,768 square feet. The largest owner is Moses Karpen, followed by Chaim Herzkovitz and then Jeno Guttmann.
There are no active new building construction projects on this tax block.

The majority, or 43 percent of the 152,768 square feet of built space are walkup buildings, with mixed-use buildings next occupying 29 percent of the space.

The borrower

The PincusCo database currently indicates that Moses Karpen owned at least 33 commercial properties with 298 residential units in New York City with 238,087 square feet and a city-determined market value of $48.1 million. (Market value is typically about 50% of actual value.) The portfolio has $89.2 million in debt, with top three lenders as Valley National Bank, Parke Bank, and Arbor Realty Trust respectively. Within the portfolio, the bulk, or 56 percent of the 238,087 square feet of built space are walkup properties, with elevator properties next occupying 29 percent of the space. The bulk, or 98 percent of the built space, is in Brooklyn, with Queens next at 2 percent of the space.

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