Skybrook Capital sells $4M notes on Flatbush dev site

Skybrook Capital sold notes with maximum principal of $4 million to new lender 828 Ny Realty Group LLC secured by 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 24 residential units at 828 New York Avenue in Flatbush. The deal closed on September 22, 2020 and was recorded on February 3, 2021. The property is owned by Jack Schwartz, Hershel Herbst and Mozes Weinstock.

The property contains a total of 23,791 square feet of built space.

The prior lender was Skybrook Capital. The last time the property sold was January 29, 2016 for $1,600,000.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $4,200.

There has been one new building permit application Those plans include a total of 24 residential units.

There have been 2 demolition projects filed over the past five years. The demolition included 2 residential units.

Direct link to Acris document. link