Sam Abed and Randy Abed borrow $5M from Bank of Hope for property in Bay Ridge

Sam Abed and Randy Abed through the entity 252 Bayridge Realty LLC as borrower signed a loan agreement with lender Bank Of Hope valued at $5 million for 1 parcel, including the tax class two-story or store and office (K2) at 254 Bay Ridge Avenue in Bay Ridge. The deal closed on March 20, 2020 and was recorded on March 26, 2020.
The property contains a total of 29,225 square feet of built space.
The average loan per buildable square foot is $171.
The last time the property sold was April 4, 2012, for $3,300,000.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $160,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link