United American Land borrows $7M from Metropolitan Commerical for property in Downtown Brooklyn

The Laboz family’s United American Land through the entity 455 Fulton, LLC as borrower signed a loan agreement with lender Metropolitan Commerical Bank valued at $7 million for 2 parcels, including the tax class retail building with apartments above (K4) at 457 Fulton Street and 453 Fulton Street in Downtown Brooklyn. The deal closed on January 14, 2020 and was recorded on January 26, 2021.
The property has 6,393 square feet of built space and available development rights.
The average loan per buildable square foot is $1,095.
The last time the property sold was September 21, 2018 for $3,500,000.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.

There has been one demolition project filed for the parcels over the past five years.

Direct link to Acris document. link