Moshe Glassman borrows $13M from M&T Bank for commercial property in Ridgewood

Moshe Glassman through the entity Summerfield Partners LLC as borrower signed a loan agreement with lender M&T Bank valued at $13.5 million for 1 parcel, including the tax class miscellaneous manufacturing building (F9) at 1614 Summerfield Street in Ridgewood. The deal closed on December 20, 2019 and was recorded on January 9, 2020.

This is a construction loan.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $20,000.There has been one new building permit application totaling 38,997 square feet. Those plans include a total of 125 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link