Alexander Hajibay borrows $49M from New York Community for multifamily in Manhattan, Queens

Alexander Hajibay through the entity Leagem Partners LLC as borrower signed a loan agreement with lender New York Community Bank valued at $49 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 214 residential units at 65 Seaman Avenue, 119-20 Union Turnpike, 144 Sherman Avenue, 40 Arden Street in Manhattan and Queens. The deal closed on August 3, 2020 and was recorded on August 11, 2020.
The property has 192,515 square feet of built space and available development rights.
The average loan per unit is $228,762.
The financing includes a $9.5 million gap loan.

Over the past five years, there have been 16 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 16 renovation/alteration projects (A2) applied for with a total estimated value of $1,657,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link