SS Dev Partners LLC obtained financing of $7M from Bankwell Bank

SS Dev Partners LLC as borrower signed a loan agreement with lender Bankwell Bank valued at $7.1 million for 8 parcels, including the tax class one-story store building (K1) at 61 Summit Street, 59 Summit Street, 57 Summit Street, 55 Summit Street, 61 Summit Street, and others in Cobble Hill. The deal closed on July 18, 2019 and was recorded on July 30, 2019.
The property contains a total of 32,000 square feet of built space. The property has 27,680 square feet of available development rights.
The average loan per buildable square foot is $221.
The last time the property sold was November 23, 2015, for $2,400,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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