Samuel Landau borrows $6M from First Central Savings Bank for acquisition of strip of properties in Flatbush

Samuel Landau through the entity 1341-1351 Flatbush Avenue as borrower signed an acquisition loan agreement with lender First Central Savings Bank valued at $5.6 million for 8 parcels, including the tax class primarily one family with store or office (S1) and containing 9 residential units at 1351 Flatbush Avenue, 1349A Flatbush Avenue, 1349 Flatbush Avenue, 1347 A Flatbush Avenue, 1347 Flatbush Avenue, and others in Flatbush. The deal closed on January 13, 2020 and was recorded on January 24, 2020.
The properties combined have 46,729 square feet of available development rights.
The average loan per buildable square foot is $119.

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