Alfred Ohebshalom borrows $13M from Santander Bank for multifamily property in East Harlem

Alfred Ohebshalom through the entity Eastside Realty Partners, LLC as borrower signed a loan agreement with lender Santander Bank, N.A valued at $12.9 million for 4 parcels, including the tax class multifamily, old law tenements (C4) and containing 55 residential units at 2281 1st Avenue, 2331 1st Avenue, 2333 1st Avenue, 2335 1st Avenue in East Harlem. The deal closed on December 10, 2019 and was recorded on December 17, 2019.
The property has 50,566 square feet of available development rights.
The average loan per unit is $234,545.
The last time the property sold was April 1, 2014, for $12,750,000.

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