A&E Real Estate Holdings borrows $16M from Capital One for multifamily property in Inwood

A&E Real Estate Holdings through the entity 370 Fort Washington Avenue, LLC as borrower signed a loan agreement with lender Capital One valued at $16.3 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 122 residential units at 121 Seaman Avenue, 370 Ft Washington Avenue in Inwood. The deal closed on December 18, 2019 and was recorded on December 26, 2019.
The property has 165,248 square feet of available development rights.
The average loan per unit is $133,197.

Over the past five years, there have been 3 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 $139,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link