Arthur Wiener borrows $7M from New York Community Bank for multifamily property in Midwood

Arthur Wiener through the entity H.B. Apartments, LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.1 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 60 residential units at 1854 Ocean Avenue in Midwood. The deal closed on October 29, 2019 and was recorded on November 12, 2019.
The property contains a total of 53,052 square feet of built space.
The average loan per unit is $118,667.
The last time the property sold was April 8, 2014, for $9,500,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $195,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link