Axos Bank Records $33.4M Loan on Williamsburg Lot Bought for $3.55M
The two mortgages total $37.2M, about 10 times the price paid seven weeks earlier. The only building filing on the lot is a four-unit conversion.
Axos Bank recorded two mortgages on 445 Grand Street in Williamsburg on Oct. 9, $33,421,575 and $3,767,500, against a 2,375 square foot lot the borrower bought seven weeks earlier for $3.55 million. The borrower is 445 Grand Street LLC, and the public record does not name the developer behind it.
Why it matters
The size of the debt does not match the site we can see. The lot holds a three-story, 3,751 square foot building from 1910 with two homes and a ground-floor shop, zoned M1-2/R6A in the MX-8 district, per city lot data. The only building filing on the lot turns it into a four-unit, five-story building at an estimated $937,700, and it was still in plan exam as of Sept. 17.
A $33 million construction-scale loan does not fit that job. Either the mortgage secures more than this one lot, or a much larger plan has not been filed yet. The record we could pull does not settle which. A Marcus & Millichap listing had pitched the lot at $4.25 million with leftover buildable area for future development.
The numbers
The August deed moved the property from the Doris K. Vila Revocable Trust to 445 Grand Street LLC for $3,550,000. The larger mortgage is 9.4 times that price. Add the $3,767,500 second mortgage and the total is $37,189,075, or 10.5 times.
A zoning lot description was also recorded Sept. 8 for the same lot, a filing that often comes before a merger or a larger project. It lists only lot 40 in the city’s data. The LLC’s address is a mail-drop style suite on Broadway, and the DOB filing lists an individual owner contact, not a firm we can tie to a track record.
What we have not verified: the legal descriptions on the two new mortgages (city open data had not posted them), whether other lots secure the loan, and who the sponsor is. Searches turned up no press on the deal.
What’s next
Watch for a consolidation or other lots joining the zoning lot, and a new DOB filing that replaces the four-unit job. Either would explain the loan. For more Brooklyn and citywide filings read against the record, see the New York market page.
On the record
What we checked ourselves, and where you can check it too.
- Our dataACRIS recorded two mortgages from 445 Grand Street LLC to Axos Bank on Oct. 9, 2026 against block 2387, lot 40: $33,421,575 (2026100500445002) and $3,767,500 (2026100500445001), together $37,189,075.View the record on a836-acris.nyc.gov
- Our dataThe borrower bought the lot by a deed recorded Aug. 21, 2026 (2026081000520001) for $3,550,000 from the Doris K. Vila Revocable Trust, so the two mortgages total about 10.5 times the price, 7 weeks later.View the record on a836-acris.nyc.gov
- Our dataThe only DOB NOW filing on BBL 3023870040 is B01389683-I1, filed June 25, 2026: a conversion of the ground-floor commercial space and two upper floors to four dwelling units with two new floors (3 to 5 stories), estimated cost $937,700, 5,638.7 sq ft, status Plan Examiner Review. It is under 3% of the combined mortgage amount.View the record on zola.planning.nyc.gov
On the record
- Primary recordNYC ACRIS, 2026 mortgage 2026100500445002Mortgage, 445 Grand Street LLC to Axos Bank, amount $33,421,575
- Primary recordNYC ACRIS, 2026 mortgage 2026100500445001Mortgage, 445 Grand Street LLC to Axos Bank, amount $3,767,500
- Primary recordNYC ACRIS, 2026 deed 2026081000520001Deed, Doris K. Vila Revocable Trust to 445 Grand Street LLC, amount $3,550,000
- Primary recordNYC DOB NOW job filing B01389683-I1Alteration CO, 445 Grand Street: conversion to four-family, 5 stories, estimated cost $937,700