488 Lafayette Ave: $6M in loans, then collapse-condition citations

The buyer of a one-story building at 488 Lafayette Avenue in Clinton Hill borrowed $6,000,000 against it on a $2,200,000 purchase, and eight weeks after closing DOB cited the demolition contractor for a roof left in a collapse condition.

Why it matters

The owner of record is 488 Lafayette Partners LLC. ACRIS shows it bought the property from Action Check Cashing Corp. in a deed dated Aug. 10 and recorded Aug. 25 (doc 2026082000862001). DOB NOW shows a six-story enlargement job, B01295637, filed Oct. 3, 2025, ten months before the deed, so the buyer took over a filing that was already in the system (dataset). The filing lists seven dwelling units and a $2,665,260 initial cost.

On Oct. 5 DOB issued two ECB violations to RNH Services Inc., the respondent. The respondent is the contractor, not the owner. Violation 39560146L says the roof was demolished with loose wall masonry and none of the required wall bracing, and flags a collapse condition. Violation 39560145J says the required notice before demolition was not made under BC 3306.3 (dataset).

The numbers

Two mortgages to Broadview Capital LLC, of $1,815,000 (doc 2026082000744001) and $4,185,000 (doc 2026082000744003), carry the same Aug. 10 date as the deed. Each has a matching assignment of leases and rents. Together the loans are $6,000,000, or 2.7 times the price. That gap likely funds the build, but the records do not say.

The deed works out to about $1,019 per sq ft of existing building, on a 2,160 sq ft lot with a 2,160 sq ft one-story building per city lot data. Each ECB carries a $2,500 penalty with a hearing set for Dec. 9. Both are active and unpaid. The records show no stop-work order, vacate order or injuries.

What’s next

A stop-work order or partial vacate would be the new fact. Watch DOB NOW job B01295637 for a status change and ECB for a hearing result. Lenders usually draw against progress, so a halted site matters to Broadview as well as the owner. More Clinton Hill filings are in our New York coverage, including 146 Cambridge Place, cited for missing shoring.