Aaron Einstein borrows $16M from Greystone & Co. for multifamily property in Rego Park

Aaron Einstein through the entity Woodmere Development LLC as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Servicing Company LLC valued at $16.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 45 residential units at 65-70 Austin Street in Rego Park. The deal closed on December 20, 2019 and was recorded on January 9, 2020.
The property contains a total of 40,573 square feet of built space.
The average loan per unit is $355,556.
The last time the property sold was July 1, 2007, for $1,900,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 45 residential (or hotel) units on September 10, 2018.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,943,790.There has been one new building permit application totaling 34,572 square feet. Those plans include a total of 45 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link