Chaim Simkowitz borrows $31M from Citibank for multifamily property in Central Harlem

Chaim Simkowitz through the entity 117 West 141 DE LLC as borrower signed a loan agreement with lender Citibank through the entity Citi Real Estate Funding Inc. valued at $30.7 million for 3 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 144 residential units at 137 West 141st Street, 127 West 141st Street, 117 West 141st Street in Central Harlem. The deal closed on November 5, 2019 and was recorded on November 20, 2019.

The average loan per unit is $213,194.
The last time the property sold was March 8, 2016, for $14,034,000.

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 $108,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link