Alexander Berkovitch borrows $22M from Arbor Commercial for multifamily property in Riverdale

July 7, 2020 7:22 am

Alexander Berkovitch through the entity 2763 Morris Avenue LLC as borrower signed a loan agreement with lender Arbor Commercial Funding I, LLC valued at $22 million for 1 parcel, including the tax class commercial condo recorded in Acris (CC) and containing 75 residential units at 2763 Morris Avenue in Riverdale. The deal closed on June 30, 2020 and was recorded on July 6, 2020.
The property contains a total of 65,819 square feet of built space.
The average loan per unit is $293,333.
The financing includes a $5.4 million gap loan.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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