Steven Hurwitz borrows $17M from City National Bank for development site in Crown Heights

Steven Hurwitz through the entity Prospect Land Acquisition, LLC as borrower signed a loan agreement with lender City National Bank valued at $16.7 million for 2 parcels, including the tax class licensed parking lot (G6) at approximately 552 Prospect Place in Crown Heights. The deal closed on March 4, 2020 and was recorded on March 19, 2020.

The last time the property sold was June 27, 2018, for $6,000,000.

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.There has been one new building permit application totaling 31,428 square feet. Those plans include a total of 41 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link