United American Land borrows $25.2M from Sterling National to buy property in Downtown Brooklyn

The Laboz family’s United American Land through the entity 80 Willoughby LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $25.2 million for 2 parcels, including the tax class parochial schools, yeshivas (W2) at 80 Willoughby Street and 80 Willoughby Street Air rights in Downtown Brooklyn. The deal closed on February 25, 2021 and was recorded on March 5, 2021.

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. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $200.

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