Solomon Feder signs $16M refi with Signature Bank for rental in Flatbush

Solomon Feder through the entity 206-210 Parkville Avenue Realty LLC as borrower signed a refi loan with lender Signature Bank valued at $16 million for the 43-unit rental (D3) at 210 Parkville Avenue in Flatbush, Brooklyn.
The deal closed on July 20, 2021 and was recorded on August 4, 2021.
The property has 29,250 square feet of built space and 0 square feet of additional air rights for a total buildable of 13,400 square feet according to PincusCo analysis of city data. The loan price per built square foot is $547 per the PincusCo analysis.
The owner bought the property on 27-Nov-13, for $400,000.
The signatory for Solomon Feder was Solomon Feder.
(321383962)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 43 residential units on November 6, 2020. (321383962) Plans for a 43-unit, 29,250 square-foot R-2 were filed on August 17, 2018 and were permitted on September 12, 2019.
The owners according to the Department of Housing Preservation and Development includes Solomon Feder, head officer and Yedidye Leibler, agent. The business entity is 206-210 Parkville Ave Realty Llc.
Within a 400-foot radius of 210 Parkville Avenue, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.
Of those four items, one was in new building development. It was a new building permit issued on February 3, 2020 for a 14,258-square-foot R-2 building with 22 residential units residential units at 639 Foster Avenue.
One of those four items was a sale which Abraham Jeremias bought the 57,660-square-foot, 63-unit rental (D1) on 250 Parkville Avenue for $7.9 million from Eric Silverstein on June 16, 2020.
Of those four items, two were loans above $5 million totaling $14.2 million. The most recent of the two was Erik Fridman which borrowed $8.2 million from Valley National Bank secured by the 22,723-square-foot, 23-unit rental (D1) on 733 Ocean Parkway on July 9, 2021.

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