Stephen Schor refis $44.3M with New York Community for 241 units in Brooklyn

Stephen Schor borrowed $44.3 million from New York Community Bank for three buildings with a total of 241 residential units in Brooklyn in three separate transactions.

In the first, Stephen Schor through the entity 699-711 Bklyn Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $18.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 95 residential units at 699 Ocean Avenue in Flatbush. The deal closed on March 23, 2021 and was recorded on April 13, 2021.
The property contains a total of 90,354 square feet of built space.
The average loan per unit is $198,267.
The last time the property sold was March 3, 2015 for $24,002,547.
Over the past five years, there have been 10 NYC Department of Buildings permit applications 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 $104,500.0. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $1,635,928.

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In the second, Stephen Schor through the entity 350 Bklyn Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $16.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 90 residential units at 350 Sterling Street in Prospect Lefferts Gdns. The deal closed on March 23, 2021 and was recorded on April 13, 2021.
The property contains a total of 104,700 square feet of built space.
The average loan per unit is $182,061.
The last time the property sold was March 3, 2015 for $22,512,500.
Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $179,008. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $197,669.

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In the third, Stephen Schor through the entity 645 Bklyn Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.1 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 56 residential units at 645 Ocean Avenue in Flatbush. The deal closed on March 25, 2021 and was recorded on April 13, 2021.
The property contains a total of 69,342 square feet of built space.
The average loan per unit is $162,247.
The last time the property sold was March 3, 2015 for $13,014,714.
Over the past five years, there have been 4 NYC Department of Buildings permit applications 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 $96,000.0. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $265,720.

Direct link to Acris document. link