Shmuel Wallerstein gets $36M construction loan from Popular Bank for 5-parcel site in Flatbush

Shmuel Wallerstein through the entity Clarkson Lefferts Gardens LLC as borrower signed a loan agreement with lender Popular Bank valued at $36 million for 5 parcels, including the tax class three-family (C0) and containing 11 residential units at 152 Clarkson Avenue, 154 Clarkson Avenue, 156 Clarkson Avenue, 158 Clarkson Avenue, 160 Clarkson Avenue in Flatbush. The deal closed on September 29, 2020 and was recorded on October 9, 2020.
The property has 54,760 square feet of built space and available development rights.

The last time the property sold was May 29, 2019, for $2,100,000. The five-building site is a block from another Wallerstein site at 210 Clarkson Avenue.

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 has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link