Solomon Weiss borrows $6.5M from Citigroup to refi rental property in Bedford-Stuyvesant

Solomon Weiss through the entity 968 Gates Ave LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $6.5 million for 2 parcels, including the tax class two-family, converted (from one family) (B3) and containing residential units at 968 Gates Avenue, 970 Gates Avenue in Bedford-Stuyvesant. The deal closed on July 1, 2020 and was recorded on July 14, 2020.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 8 residential units on February 5, 2020.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $885,000. Those filings sought to increase the number of residential units by 6 to 8
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link