A&E Real Estate borrows $20M from Signature Bank for multifamily property in Washington Heights

A&E Real Estate Holdings through the entity 135-143 Haven Avenue, LLC as borrower signed a loan agreement with lender Signature Bank valued at $19.5 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 134 residential units at 736 West 173rd Street, 735 West 172nd Street in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 10, 2020.
The property contains a total of 48,199 square feet of built space. The property has 136,556 square feet of available development rights.
The average loan per unit is $145,522.
The loan package includes $3.86 million in new debt and refinanced a 2015 loan from M&T Bank. The last time an interest in the property sold was January 29, 2018.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link