William Lerner borrows $16.6M from Valley National for property in Dyker Heights

William Lerner of Imperial Parking Systems through the entity 9020 Fifth Avenue Realty LLC as borrower signed a loan agreement with lender VNB New York, LLC valued at $16.6 million for 7 parcels, including the tax class primarily two family with store or office (S2) and containing 5 residential units at 7121 13th Avenue, 7119 13th Avenue, 7117 13th Avenue, 7115 13th Avenue, 7601 4th Avenue, and others in Dyker Heights, Brooklyn. The deal closed on December 23, 2020 and was recorded on January 22, 2021.
The property has 61,118 square feet of built space and available development rights.
The average loan per buildable square foot is $272.
William Lerner owns Imperial Parking Systems.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $4,130,000.0.

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