Financing · Crown Heights
745 & 747 Franklin Avenue Financing (Jun. 2026)
- Amount
- $10M
- Type
- Financing
- Date
- Jun. 2026
745 Franklin Avenue, Brooklyn, NY
Recorded in NYC property records.
- Borrower
- 747 Franklin Condominiums LLC
- Borrower
- PKJ, LLC
- Lender
- Five Towns Funding LLC
- PincusCo attributes the loan to Ariel Sholomov personally, while ACRIS and HPD records show the recorded owners as 747 Franklin Condominiums LLC and PKJ, LLC -- the exact relationship between Sholomov and those entities isn't established in Hush Street's sourcing.
- 747 Franklin Avenue is a 1931-built, three-story building with 3 dwelling units, classified Primarily Three Family With Store or Office (S3).
- The building's HPD registration lists Stephen Palmese and Robert Palmese as officers of PKJ LLC, both at an address on 18th Avenue in Bensonhurst, not Crown Heights.
- Lender Five Towns Funding LLC is a private real estate lender, named directly on the ACRIS financing documents.
Overview
On June 4, 2026, Five Towns Funding LLC recorded a $10 million mortgage against 745 and 747 Franklin Avenue in Crown Heights, naming 747 Franklin Condominiums LLC and PKJ, LLC as borrowers. A further $1.89 million document in the same event is likely a companion filing. PincusCo independently reported an $11.9 million combined loan across both addresses, attributing it to Ariel Sholomov -- a figure closely matching the ACRIS total, though the precise relationship between Sholomov and the two named borrowing LLCs isn't established in Hush Street's sourcing.
747 Franklin Avenue is a 1931-built, three-story building with three dwelling units, classified by the city as Primarily Three Family With Store or Office. Its HPD ownership registration -- last filed in 2023 -- lists Stephen Palmese and Robert Palmese as officers of PKJ LLC, both at an address on 18th Avenue in Bensonhurst, suggesting longtime outside ownership rather than a Crown Heights-based landlord. City alteration-permit records show a string of small interior jobs filed on the two buildings between 2014 and 2026, consistent with an older, continuously occupied multi-unit property rather than a vacant redevelopment site.
Not currently in Hush Street's Crown Heights registry.
A confirmed $10-12 million loan on two adjacent, century-old Franklin Avenue buildings -- real capital activity on established rental property, though the loan's purpose (refinancing existing debt vs. funding renovation work) isn't independently confirmed by any source reviewed here.
Parties Involved 4 recorded
Basis
Named as party1 on the ACRIS MTGE/AGMT documents; PincusCo's own property page confirms it as the owner of record for this BBL.
Basis
Named as co-party1 on the ACRIS MTGE/AGMT documents; HPD's own ownership registration for the building lists PKJ LLC as corporate owner, with Stephen Palmese as head officer.
Basis
Named as party2 on the ACRIS MTGE/AGMT documents; PincusCo independently confirms Five Towns Funding as the lender for a combined $11.9M loan across both addresses.
Basis
Named by PincusCo as the borrower of the $11.9M combined loan; not named directly on the ACRIS MTGE/AGMT documents, which instead name the two borrowing LLCs.
Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.
Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.
Property & Project
Sources & Recordsverification, citations & data notes
- ACRIS Document Detail -- mortgage, $10,000,000 — NYC ACRIS
- Ariel Sholomov -- transaction record — PincusCo
- 3012450008 -- property transaction record — PincusCo