Yaakov Blatter borrows $8.2M from Arbor Realty Trust for multifamily in Ocean Hill

Yaakov Blatter through the entity 2288 Atlantic LLC as borrower signed a loan agreement with lender Arbor Realty Trust (which assigned the debt to Fannie Mae) through the entity Arbor Commercial Funding I, LLC valued at $8.2 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 22 residential units at 2288 Atlantic Avenue in Ocean Hill. The deal closed on July 31, 2020 and was recorded on August 4, 2020.
The property contains a total of 17,559 square feet of built space.
The average loan per unit is $372,727.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 21 residential units on July 24, 2018.
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 14,989 square feet. Those plans include a total of 22 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link