Alma Realty pays $6.5M to Joseph Lewner for rental in Washington Heights

Alma Realty through the entity Alma Trenton LLC paid $6.5 million to Joseph Lewner through the entity L&L Realty Equities, LLC for 37-unit rental (D1) at 353 Ft Washington Avenue in Washington Heights, Manhattan.
The deal closed on December 22, 2021 and was recorded on January 5, 2022.
The property has 67,740 square feet of built space and 10,228 square feet of additional air rights for a total buildable of 77,946 square feet according to PincusCo analysis of city data. The sale price per built square foot is $96 and the price per buildable square foot is $84 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Joseph Lewner was Craig Lewner. The signatory for Alma Realty was John Mavroudis.
Over the past five years, there has been one NYC Department of Buildings permit application 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 $840,000. Those filings sought to increase the number of residential units by 4 to 37. One of the projects were to change the building from a RES to a R-2and change the number of residential units from 33 to 37.

Joseph Lewner is the father of Craig Lewner who previously signed on a mortgage for the property and is part of L&L Realty
The former owners according to the Department of Housing Preservation and Development included Adam Jernow, head officer and Christian Castillo, officer. The business entity was L & L Realty Equities Llc.

Within a 400-foot radius of 353 Ft Washington Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $32.2 million. The most recent of the two was Michael Aryeh which borrowed $16 million from Spencer Savings Bank secured by the 76,536-square-foot, 78-unit rental (D7) on 326 Ft Washington Avenue on June 11, 2021.

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