Chaim Schweid signs $19.6M in refi loans with JPMorgan Chase for rentals in Queens

Chaim Schweid signed $19.6 million in refinancing loans with JPMorgan Chase for rentals in Queens in three separate transactions.

In the first, Chaim Schweid through the entity Lsb Heights Associates LLC signed a refi loan with lender JPMorgan Chase valued at $6.8 million for two rentals including the 58-unit rental (D1) at 37-42 80th Street in Jackson Heights, Queens and 58-unit rental (D1) at 37-41 79th Street in Jackson Heights, Queens.
The deal closed on June 14, 2021 and was recorded on June 21, 2021.
The two properties have 61,080 square feet of built space and 21,151 square feet of additional air rights for a total buildable of 82,216 square feet according to PincusCo analysis of city data. The loan price per built square foot is $111 and the price per buildable square foot is $82 per the PincusCo analysis.
The signatory for Chaim Schweid was Chaim Schweid.

The owners according to the Department of Housing Preservation and Development include Chaim Schweid, head officer and Diego Tobar, site manager. The business entity is Lsb Heights Associaites Llc.
Within a 400-foot radius of 37-42 80th Street, Pincusco identified four commercial real estate items of interests occurred over the past 24 months.

Of those four items, three were loans above $5 million totaling $61.1 million. The most recent of the three was Cammeby’s International Group which borrowed $44.8 million from Capital One, National Association secured by the 99,000-square-foot, 99-unit rental (D7) on 37-06 80th Street and six other properties on March 15, 2021.

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In the second, Chaim Schweid through the entity Lsb 35th-94th LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $6.5 million for the 84-unit rental (D1) at 144-50 35th Avenue in Flushing, Queens.
The deal closed on June 14, 2021 and was recorded on June 21, 2021.
The property has 75,300 square feet of built space and 27,900 square feet of additional air rights for a total buildable of 103,200 square feet according to PincusCo analysis of city data. The loan price per built square foot is $86 and the price per buildable square foot is $63 per the PincusCo analysis.
The signatory for Chaim Schweid was Chaim Schweid.
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.
The owner according to the Department of Housing Preservation and Development is Chaim Schweid, head officer. The business entity is Lsb 35th 94th Llc.
Within a 400-foot radius of 144-50 35th Avenue, Pincusco identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $39.0 million. The most recent of the two was Yu Liu which borrowed $13.5 million from Nw 141-57 Nb Lender LLC secured by the 14,200-square-foot, two-unit office building (O5) on 141-57 Northern Boulevard on March 4, 2021.

Direct link to Acris document. link

In the third, Chaim Schweid through the entity Grove Gardens Associates LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $6.3 million for the 101-unit rental (D1) at 90-23 149th Street in Jamaica, Queens.
The deal closed on June 14, 2021 and was recorded on June 21, 2021.
The property has 110,160 square feet of built space and 13,598 square feet of additional air rights for a total buildable of 123,624 square feet according to PincusCo analysis of city data. The loan price per built square foot is $57 and the price per buildable square foot is $50 per the PincusCo analysis.
The owner bought the property on 16-Nov-04, for $6.2 million.
The signatory for Chaim Schweid was Chaim Schweid.
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.
The owners according to the Department of Housing Preservation and Development includes Chaim Schweid, head officer and Diego Tobar, site manager. The business entity is Grove Gardens Associates Llc.
Within a 400-foot radius of 90-23 149th Street, Pincusco identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was in new building development. It was a new building permit application filed on July 18, 2019 for a 23,418-square-foot R-2 building with 26 residential units residential units at 148-01 90th Avenue.
One of those two items was a loan which Michael Partridge Realty Corp borrowed $5.0 million from TD Bank secured by the 136,000-square-foot, 120-unit rental (D1) on 90-11 149th Street on June 7, 2021.

Direct link to Acris document. link