A&E Real Estate Holdings borrows $37M from Capital One for multifamily property in Washington Heights

A&E Real Estate Holdings through the entity 2 Ellwood Street, LLC as borrower signed a loan agreement with lender Capital One through the entity Capital One, National Association valued at $36.5 million for 2 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 338 residential units at 2 Ellwood Street, 64 Hillside Avenue in Washington Heights. The deal closed on November 26, 2019 and was recorded on December 10, 2019.
The property contains a total of 119,899 square feet of built space.
The average loan per unit is $107,988.
The prior loan was from BankUnited totaling $37 million.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $150,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $570,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link