Richard A. Kaplin borrows $9M from TD Bank to refi shopping center in Ozone Park

Richard A. Kaplin through the entity Crossbay Associates, LLC as borrower signed a loan agreement with lender TD Bank valued at $9 million for 1 parcel, including the tax class shopping center with parking facilities (K6) at 137-20 Cross Bay Boulevard in Ozone Park. The deal closed on March 30, 2020 and was recorded on April 17, 2020.
The property contains a total of 31,000 square feet of built space. The property has 116,710 square feet of available development rights.

This is a refinance of a $9 million loan provided by Santander Bank in 2015.

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 $128,050.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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