Moshe Tropper borrows $20M from Valley National for property in East New York

Moshe Tropper through the entity Lads Avenue Associates LLC as borrower signed a loan agreement with lender Valley National Bank valued at $20.0 million for 1 parcel, including the tax class special construction, fireproof manufacturing building such as for printing plant, etc. (F2) at 906 Wortman Avenue in East New York. The deal closed on March 8, 2021 and was recorded on March 25, 2021.
The property contains a total of 112,800 square feet of built space.
The average loan per buildable square foot is $177.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $187,200.

Direct link to Acris document. link