Yaniv Cohen’s Nexus Building Development Group borrows $15M from S3 Capital for property in Crown Heights

Yaniv Cohen’s Nexus Building Development Group through the entity DRK Prospect Place LLC as borrower signed a loan agreement with lender S3 Capital through the entity S3 Re Funding Iii LLC valued at $14.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 19 residential units at 906 Prospect Place in Crown Heights. The deal closed on September 24, 2019 and was recorded on October 10, 2019.
There has been one new building permit application with 22 units totaling 21,945 square feet.
The average loan per unit is $776,316.
The last time the property sold was March 29, 2016, for $7,463,515.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $485,200. Those plans include a total of 22 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

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