Arthur Kokot borrows $12M from Citi Real Estate Funding for property in Washington Heights

Arthur Kokot through the entity 1090 St. Nicholas Investors LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $11.9 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 40 residential units at 1090 St Nicholas Avenue in Washington Heights. The deal closed on October 8, 2019 and was recorded on October 11, 2019.
The property contains a total of 51,550 square feet of built space.
The average loan per unit is $297,500.
The last time the property sold was July 14, 2017, for $21,150,000.

Over the past five years, there have been 9 NYC Department of Buildings permit applications 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 $115,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $395,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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