Yousef Lati borrows $7M from Flushing Bank for property in Soundview

Yousef Lati through the entity 893 Shepherd Avenue LLC as borrower signed a loan agreement with lender Flushing Bank valued at $6.5 million for 1 parcel, including the tax class one-story store building (K1) at 1627 Westchester Avenue in Soundview. The deal closed on September 19, 2019 and was recorded on October 15, 2019.
The property contains a total of 10,583 square feet of built space. The property has 15,914 square feet of available development rights.
The average loan per buildable square foot is $247.
The last time the property sold was December 30, 2013, for $5,000,000.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $158,283.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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