Aron Stark secured a $20.6 m construction loan from Ponce Bank for two residential projects at 1451 and 1453 Sutter Avenue in East New York, Brooklyn. The properties will feature 10-unit residential buildings totaling 16,929 square feet, with permits approved in 2022. Stark purchased the sites in 2023 for $3 m. The lots span 2,700 square feet with R6A zoning, allowing up to three times FAR for residential development. Prior loans on the properties amounted to $2.4 m.
1451 and 1453 Sutter Avenue
