Poise Property Group signs $16.2M construction loan for 20-unit dev site in Greenpoint

Poise Property Group through the entity 55 Eckford St LLC as borrower signed a initial loan with lender Colorado Federal Savings Bank through the entity Colorado Federalsavings Bank valued at $16.2 million for the 26-unit development building (V1) at 55 Eckford Street in Greenpoint, Brooklyn.

On the lot, there is one active new building construction project, B01167721, for a 20-unit, 22,406 square-foot residential (R-2) building. The project was submitted by Poise Property Group and filed by Daniel Kaykov with plans filed January 27, 2025 and permitted November 21, 2025.
The deal closed on May 21, 2026 and was recorded on June 23, 2026. The property has 42,449 square feet of built space and 20,752 square feet of additional air rights according to a PincusCo analysis of city data. The loan price per built square foot is $381 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 24, 2024, for $7.2 million. The signatory for Poise Property Group was Daniel Kaykov .

The property

The development building with 26 residential units in Greenpoint has 42,449 square feet of built space and 20,752 square feet of additional air rights according to a PincusCo analysis of city data. The parcel has frontage of 97 feet and is 100 feet deep with a total lot size of 10,376 square feet. The lot is irregular. The zoning is M1-2/R6B which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 2 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $1.4 million.

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 $4,330 in OATH penalties in the last year.

Development

The neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has 2.5 times the average sales volume among other neighborhoods with $893.9 million in sales volume in the last two years and is the 5th highest in Brooklyn. For development, Greenpoint has 2.1 times the average amount of major developments relative to other neighborhoods and is the 4th highest in Brooklyn. It had 3.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 14 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of nine of the 14 commercial properties representing 115,952 square feet of the 136,670 square feet. The largest owner is Tin See Fung , followed by Dorota Kost and then Edward Zylka .
On the tax block, there were two new building construction projects totaling 42,682 square feet. The largest is a 21-unit, 22,406 square-foot residential (R-2) building submitted by Poise Property Group and filed by Daniel Kaykov with plans filed January 27, 2025 and permitted November 21, 2025. The second largest is a 24-unit, 20,276 square-foot residential (R-2) building submitted by Abraham Posner and filed by Abe Posner with plans filed April 5, 2022 and permitted January 17, 2023.

The majority, or 31 percent of the 136,670 square feet of built space are elevator buildings, with walkup buildings next occupying 29 percent of the space.

The borrower

The PincusCo database currently indicates that Poise Property Group owned at least five commercial properties with 46 residential units in New York City with 113,555 square feet and a PincusCo-determined asset value of $76 million. The portfolio has $35.3 million in debt, with top three lenders as Preferred Bank , Ponce Bank, and MidFirst Bank respectively. Within the portfolio, the bulk, or 56 percent of the 113,555 square feet of built space are D7 properties, with elevator properties next occupying 37 percent of the space.

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