NYC Top Construction signs $16M acquisition loan with Broadview Funding for office building in Williamsburg

NYC Top Construction through the entity 731 Flushing Ave Realty LLC as borrower signed an acquisition loan with lender Broadview Funding valued at $16 million for the office building (O2) at 731 Flushing Avenue in Williamsburg, Brooklyn.
The deal closed on November 30, 2021 and was recorded on December 22, 2021.
The property has 73,210 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $218 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 NYC Top Construction was Shiya Labin.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. One of the projects were to change the building from a E to a B and were permitted on October 27, 2009.
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