Anonymous buyer acquires $20M note secured by Azimuth’s West Harlem property

The anonymous entity 99 Morningside Noteholder LLC bought a note with an original principal of $20 million from Bank Hapoalim secured by Azimuth Development Group’s 22-unit rental (D6) at 99 Morningside Avenue in West Harlem, Manhattan.
The deal closed on April 22, 2021 and was recorded on May 7, 2021.
The property has 50,926 square feet of built space and 0 square feet of additional air rights for a total buildable of 40,809 square feet according to PincusCo analysis of city data. The loan price per built square foot is $0 per the PincusCo analysis.
The owner bought the property on 11-Mar-15, for $5 million.
(122068467)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 22 residential units on December 19, 2019. (122068467) Plans for a 23-unit, 47,011.0 square-foot R-2 were filed on August 26, 2014.
This is an assignment of a $20 million construction loan originated in 2017 by Bank Hapoalim and most recently modified in 2020.
There was a condominium project filed with the address 101 Morningside Avenue and the name 99 Morningside on January 15, 2019. The principals of the sponsor, 99 Morningside Llc, were Guido Subotovsky and Hugo Subotovsky. link

Direct link to Acris document. link