A&H Acquisitions borrows $15M from JPMorgan Chase for commercial property in Midwood

A&H Acquisitions Corp., Harry Adjmi as signatory, through the entity 2146 Nostrand Avenue Associates LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $15.0 million for 3 parcels, including the tax class two-story or store and office (K2) at 2166 Nostrand Avenue, 2146 Nostrand Avenue, 2158 Nostrand Avenue in Midwood. The deal closed on December 13, 2019 and was recorded on January 14, 2020.
The property contains a total of 25,697 square feet of built space. The property has 76,420 square feet of available development rights.

Prior debt totaling $16 million was provided by Signature Bank in 2013. The last time the property sold was January 13, 2012, when A&H bought it for $10,136,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on February 13, 2014.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $1,387,220.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link