Jacob Landau And Pinches Abowitz Secure $52M Construction Loan From Popular Bank For Development Site In Brooklyn
1832 Fulton Street
$52,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 12, 2025
AI
1832 Fulton Street is a development site located in Bedford Stuyvesant, Brooklyn. The property is part of a project that aims to develop 212 residential units, supported by a construction loan of $52 million from Popular Bank.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $52,000,000
- Lender: Popular Bank
- Landlord: Jacob Landau & Pinches Abowitz
- Date: 08/12/2025
- Address: 1832 Fulton Street
- Market: Bedford Stuyvesant, Brooklyn
- Loan Type: Construction
Jacob Landau and Pinches Abowitz, through 1832 Fulton Street LLC, are key individuals involved in this transaction, having secured the loan for the ongoing development project aimed at expanding residential accommodations in the area.
Players
Brooklyn Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93