FIRST REPORT: SATMAR (KJ) RECEIVES CONSTRUCTION MORTGAGE FOR FUTURE EXPANSION IN LAKEWOOD


Congregation Satmar of Lakewood, which last year moved into their new shul at 604 and 608 East Kennedy Boulevard, has just received a construction loan on a lot which they recently purchased near their new shul building, FAA News has learned.


This congregation is affiliated with the Kiryas Joel-based Satmar group, led by Grand Rabbi Aron Teitelbaum.




As was first reported here on FAA News back in May, the Congregation closed on the purchase of 2 adjoining lots near their new shul building.


One lot is 357 East County Line Road, Block 141 Lot 12. The second lot is 358 East Kennedy Boulevard, Block 141 Lot 3. Both lots are shown on the map pictured below.




Lot 12 was sold by Yosef Brezel to Congregation Satmar of Lakewood, with a mailing address of 441 Squankum Road. The purchase price was $725,000.


Lot 3 was sold by Samuel Schachter to Parkway Group LLC, which also has a mailing address of 441 Squankum Road. The purchase price was also $725,000.


These new lots are 2 blocks away from the new shul.


Parkway Group LLC has just now secured a $507,500 construction mortgage for 358 East Kennedy Boulevard. The Congregation has not yet submitted plans to the Township for what they plan to build on this lot, however, FAA News has learned that plans are being designed for a new mikvah at this location.


Public records obtained by FAA News indicate that the Congregation purchased 608 East Kennedy Boulevard on October 20, 2016 for $350,000 from Shmuel and Suri Lubin. The Congregation purchased 604 East Kennedy Boulevard on July 3, 2018 for $345,000 from Yona Weiss of Elyon Capital LLC.


Additionally, on November 24, 2020, the Congregation purchased 507 East County Line Road for $180,000 from Isaac Bistritsky. Subsequently, on October 31, 2022, the Congregation purchased the adjoining lot at 505 East County Line Road for $1 million. The seller was 505CL LLC. This property, which is in back of their shul building, is currently rented to Skver.


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