Chaim Schweid borrows $14M from New York Community Bank for multifamily property in Holliswood

Chaim Schweid through the entity Cs 87 Estates LLC as borrower signed a loan agreement with lender New York Community Bank valued at $13.8 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 95 residential units at 188-30 87th Drive in Holliswood. The deal closed on May 13, 2020 and was recorded on May 18, 2020.

The average loan per unit is $145,495.
The last time the property sold was March 27, 2017, for $20,900,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $134,540.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link