Arthur Green borrows $18.7M from JPMorgan Chase to refi 267 units in Bronx

UPDATED, 8:48 a.m., June 2, 2020: Arthur C. Green borrowed $18.7 million from JPMorgan Chase Bank to refinance three properties with 371 units in the Bronx in three separate transactions.

In the largest, Green through the entity 151st And Walton, LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $7.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 98 residential units at 175 East 151st Street in Longwood Melrose. The deal closed on May 28, 2020 and was recorded on June 1, 2020.
The property contains a total of 115,500 square feet of built space.
The average loan per unit is $75,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $124,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, Green through the entity 695-711 Walton, LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $6.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 94 residential units at 695 Walton Avenue in Longwood Melrose. The deal closed on May 28, 2020 and was recorded on June 1, 2020.
The property contains a total of 108,600 square feet of built space. The property has 150,642 square feet of available development rights.
The average loan per unit is $67,553.
The last time the property sold was December 20, 2012, for $8,600,000.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $109,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the third, Green through the entity 731 Gerard/Walton, LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 75 residential units at 731 Gerard Avenue in Longwood Melrose. The deal closed on May 28, 2020 and was recorded on June 1, 2020.
The property contains a total of 78,240 square feet of built space. The property has 112,176 square feet of available development rights.
The average loan per unit is $66,667.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $48,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: An earlier version of this post identified another property as owned by Arthur Green, when in fact it is owned by Cid Associates LLC