Arthur Haruvi signs $62.2M refi with Bethpage for 25 rentals in Manhattan

Arthur Haruvi through the entity 114 East 71 Associates, LLC as borrower signed a refi loan with lender Bethpage Federal Credit Union valued at $62.2 million for 25 rentals including the 45-unit rental (C7) at 448 West 57th Street in Hell’s Kitchen, Manhattan, 37-unit rental (D6) at 244 West 74th Street in Upper West Side, Manhattan, and 18-unit rental (D1) at 114 East 71st Street in Upper East Side, Manhattan.
The deal closed on October 28, 2021 and was recorded on December 9, 2021.
The 25 properties have 329,727 square feet of built space and 115,565 square feet of additional air rights for a total buildable of 419,523 square feet according to PincusCo analysis of city data. The loan price per built square foot is $188 and the price per buildable square foot is $148 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 Arthur Haruvi was Arthur Haruvi.

The owners according to the Department of Housing Preservation and Development includes Abe Haruvi, head officer and Arthur Haruvi, officer. The business entity is Abart Holdings Llc.
Within a 400-foot radius of 219 East 32nd Street, Pincusco identified nine commercial real estate items of interests occurred over the past 24 months.
Of those nine items, three were sales above $5 million totaling $18.7 million. The most recent of the three was Kabbalah Centre which bought the 4,941-square-foot, two-unit two-family building (B1) on 247 East 32nd Street for $6.0 million from Peter Von der Ahe and Sarah Von der Ahe on August 2, 2021.
Of those nine items, six were loans above $5 million totaling $71.0 million. The most recent of the six was Slate Property Group which borrowed $14.4 million from Dime Community Bank secured by the 22,718-square-foot, 31-unit rental (C7) on 489 3rd Avenue on March 15, 2021.

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