$16M from Capital One lent on multifamily property in Washington Heights

Ruth Stefansky and Alan Margulies through the entity Classic Equities LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $16.0 million for 1 parcel, including the tax class cooperative (D4) and containing 79 residential units at 590 Ft Washington Avenue in Washington Heights. The deal closed on November 7, 2019 and was recorded on November 14, 2019.
The property contains a total of 92,430 square feet of built space.
The average loan per unit is $202,532.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $147,320.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link