Zev Mayer signs $39.6M construction loan with Popular Bank for 101-unit project in Arverne

Zev Mayer through the entity 6014 B LLC as borrower signed a new construction loan with lender Popular Bank through the entity Popular Bank valued at $39.6 million for the development building (V1) at 60-14 Beach Channel Drive in Arverne, Queens.

On the lot, there is one active new building construction project, Q00740418, for a 101-unit, 74,849 square-foot residential (R-2) building. The project was submitted by Matthew Ahdoot with plans filed July 11, 2022 and permitted January 6, 2025.
The deal closed on March 26, 2026 and was recorded on March 30, 2026. The prior lender was BX Capital which held debt that had an original loan amount of $6 million.The property has zero square feet of built space and 65,878 square feet of additional air rights for a total buildable of 65,878 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $N/A and the price per buildable square foot is $601 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on April 8, 2024, for $7.8 million. The signatory for Zev Mayer was Zev Mayer. The signatory for Popular Bank was Gary Hoffson .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Zev Mayer, head officer and Jacob Brach, agent. The business entity is 6014 B Llc.

The property

The parcel has frontage of 202 feet and is 218 feet deep with a total lot size of 32,939 square feet. The lot is irregular. The zoning is R5D which allows for up to 2 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3 million. Popular Bank on March 26, 2026 bought a loan with an original principal of $6.0M from BX Capital signed by Jeffrey Edelman , secured by 60-14 Beach Channel Drive, when owned by Zev Mayer .

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $6,930 in OATH penalties in the last year.

The neighborhood

In Arverne, The bulk, or 38 percent of the 1.3 million square feet of commercial built space are specialty buildings, with elevator buildings next occupying 33 percent of the space. In sales, Arverne has the 37th highest sale turnover among other neighborhoods in Queens with $28.9 million in sales volume in the last two years. For development, Arverne has had very little major development activity relative to other neighborhoods.It had 247,319 square feet of commercial and multi-family construction under development in the last two years, which represents 18 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owner of the one commercial property that spans that spans zero square feet on the block.The identified owner is Zev Mayer.
On the tax block, there were two new building construction projects totaling 76,813 square feet. The largest is a 101-unit, 74,849 square-foot residential (R-2) building submitted by Matthew Ahdoot with plans filed July 11, 2022 and permitted January 6, 2025. The second largest is a 1,964 square-foot storage (S-2) building submitted by Ariel Zabloski with plans filed August 24, 2017 and it has not been permitted yet.

All properties are industrial.

The borrower

The PincusCo database currently indicates that Zev Mayer owned at least nine commercial properties with 160 residential units in New York City with 14,196 square feet and a city-determined market value of $12.4 million. (Market value is typically about 50% of actual value.) The portfolio has $65.5 million in debt, with top three lenders as Valley National Bank, Broadview Capital, and Parke Bank respectively. Within the portfolio, the bulk, or 43 percent of the 14,196 square feet of built space are C3 properties, with mixed-use properties next occupying 42 percent of the space. The bulk, or 82 percent of the built space, is in Bronx, with Brooklyn next at 18 percent of the space.

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