The Real Deal New York

Abraham Leser lands $71M loan for SUNY hospital site in Brooklyn

TD Bank is the lender
By Christian Bautista | November 13, 2018 06:15PM

699 92nd Street in Brooklyn (Credit: Google Maps)

Investor Abraham Leser landed a $71.3 million loan for the SUNY Downstate Medical Center location in Bay Ridge.

The new debt replaces a $25 million Continental Casualty Company mortgage from 2011, property records show. The lender for the new loan is TD Bank, which provided $50.4 million in new financing.

The property, at 9036 7th Avenue, is a seven-story building near the corner of 92nd Street. Leser sold a portion of the site, previously known as the Victory Memorial Hospital, in 2010. SUNY Downstate, which offers urgent care, ambulatory surgery and laser eye surgery services at the site, currently occupies 130,000 square feet in the building. The property is also home to Northwell Health, which agreed to develop a 45,000-square-foot portion of the building with partner Maimonides Medical Center. The partners signed a long-term lease at the site in 2016, records show. The loan also covers a nearby one-story parking garage at 9012 7th Avenue.

Leser, who heads the Leser Group, owns properties in Manhattan, Brooklyn and the Bronx. Last year, he filed plans for a 128-unit residential building at 1570 60th Street. His assets also include 609-615 Second Avenue, a package of four low-rise buildings in Murray Hill, and 111 Livingston Street, a 23-story office tower in Downtown Brooklyn.

Leser could not be reached for comment.