Saul Maslavi borrows $8M from JPMorgan Chase for warehouse in Greenpoint

Saul Maslavi through the entity 333 North Henry LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $8 million for 1 parcel, including the tax class fireproof warehouse (E1) at 274 Russell Street in Greenpoint. The deal closed on May 20, 2020 and was recorded on June 15, 2020.
The property contains a total of 55,500 square feet of built space. The property has 70,200 square feet of available development rights.
The average loan per buildable square foot is $114.
The financing included $2.3 million in new debt. The last time the property sold was June 2, 2014, for $10,550,000.

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 $164,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link