Shiya Labin borrows $21M from ConnectOne Bank for property acquisition in Kensington

Shiya Labin through the entity 6201 BSD LLC as borrower signed a loan agreement with lender ConnectOne Bank valued at $21 million for the acquisition of two parcels, including the tax class office building with commercial with one to six stories (O5) at 6201 15th Avenue and 6310 15th Avenue in Kensington. The deal closed on August 6, 2020 and was recorded on August 14, 2020. The properties are across the street from one another.
The properties contain a total of 147,520 square feet of built space. The properties have 155,912 square feet of available development rights.
The average loan per buildable square foot is $135.
This is the first debt on the property since American Stock Transfer paid off a mortgage in 2013.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $354,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link