Stephen Schor refis $9.8M with New York Community for 47-unit rental in Flatbush

Stephen Schor through the entity 855 Bklyn Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 47 residential units at 855 Ocean Avenue in Flatbush. The deal closed on March 25, 2021 and was recorded on April 9, 2021.
The property contains a total of 57,264 square feet of built space.
The average loan per unit is $207,711.
The last time the property sold was March 3, 2015 for $13,375,000.
Over the past five years, there have been 3 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 $100,000.0. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $93,000.

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