Yosef Rabinowitz borrows $12M from M&T Bank for multifamily property in Williamsburg

Yosef Rabinowitz through the entity 39 Ainslie Property Owner LLC as borrower signed a loan agreement with lender M&T Bank valued at $12.2 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 10 residential units at 45 Ainslie Street in Williamsburg. The deal closed on February 21, 2020 and was recorded on March 2, 2020.
The property contains a total of 20,000 square feet of built space.
The average loan per buildable square foot is $610.
The last time the property sold was April 1, 2015, for $7,000,000.

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 $760,990.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link