Chaim (Eli) Bleeman borrows $22M from New York Community Bank for multifamily property in Tremont

Chaim (Eli) Bleeman through the entity Sheridan 1511 LLC as borrower signed a loan agreement with lender New York Community Bank valued at $21.6 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 223 residential units at 1511 Sheridan Avenue in Tremont. The deal closed on February 25, 2020 and was recorded on March 6, 2020.
The property contains a total of 202,418 square feet of built space. The property has 275,081 square feet of available development rights.
The average loan per unit is $96,861.
The last time the property sold was March 20, 2017, for $38,100,000.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $5,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $167,213.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link