Randal Gindi borrows $9M from Israel Discount Bank Of New York for property in Tribeca

Randal Gindi through the entity 251 Church Street LLC as borrower signed a loan agreement with lender Israel Discount Bank Of New York valued at $8.5 million for 1 parcel, including the tax class multifamily, converted (D5) and containing 5 residential units at 69 Leonard Street in Tribeca. The deal closed on September 26, 2019 and was recorded on October 16, 2019.
The property contains a total of 14,425 square feet of built space. The property has 2,943 square feet of available development rights.
The average loan per buildable square foot is $489.
The last time the property sold was December 28, 2012, for $5,338,667.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $100,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $217,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link