Raymour & Flanigan borrows $12M from Keybank National Association for property in Gravesend

Raymour & Flanigan through the entity 3035 Cropsey Avenue, LLC as borrower signed a loan agreement with lender Keybank National Association valued at $11.9 million for 1 parcel, including the tax class one-story store building (K1) at 1509 Hart Place in Gravesend. The deal closed on June 15, 2020 and was recorded on June 22, 2020.
The property contains a total of 39,350 square feet of built space.

This is an acquisition loan. The prior lender was Customers Bank, which provided the prior owners $14 million.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $33,650.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link