Parkoff Organization refis $18M with Esquire Bank for rentals in East Flatbush

Parkoff Organization through the entity Kings & I Assets LLC as borrower signed a loan agreement with lender Esquire Bank, National Association valued at $18 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 154 residential units at 3101 Avenue I and 3115 Avenue I in East Flatbush. The deal closed on March 22, 2021 and was recorded on March 30, 2021.

The average loan per unit is $116,883.
The last time the property sold was October 27, 2011 for $22,100,000.
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.

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