Benjamin Hadar borrows $33M from Starwood Mortgage Capital for multifamily property in Hamilton Heights

Benjamin Hadar through the entity 3210 Riverdale Holdings LLC as borrower signed a loan agreement with lender Starwood Mortgage Capital LLC valued at $32.5 million for 4 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 98 residential units at 1616 Amsterdam Avenue, 3217 Irwin Avenue, 3217 Irwin Avenue, 3217 Irwin Avenue in Hamilton Heights. The deal closed on February 7, 2020 and was recorded on February 18, 2020.

The average loan per unit is $331,633.

Over the past five years, there have been 10 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $910,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link