Yitzchok Katz borrows $9.6M from Berkadia Commercial for multifamily property in Flatbush

Yitzchok Katz through the entity 830 Flatbush Realty LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage (which assigned the deb to Fannie Mae) through the entity Berkadia Commercial Mortgage LLC valued at $9.6 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 20 residential units at 830 Flatbush Avenue in Flatbush. The deal closed on July 28, 2020 and was recorded on August 4, 2020.
The property contains a total of 21,212 square feet of built space.
The average loan per unit is $482,350.
The last time the property sold was January 22, 2015, for $2,400,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 20 residential units on December 31, 2018.
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 5 renovation/alteration projects (A2) applied for with a total estimated value of $244,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link