Chaim Simkowitz borrows $5.3M from Signature Bank to purchase school property in Morrisania

Chaim Simkowitz through the entity 421 East 161 LLC as borrower signed a loan agreement with lender Signature Bank valued at $5.3 million for 1 parcel, including the tax class miscellaneous educational (W9) at 421 East 161st Street in Morrisania. The deal closed on August 4, 2020 and was recorded on August 12, 2020.
The property contains a total of 16,600 square feet of built space. The property has 73,443 square feet of available development rights.
The average loan per buildable square foot is $71.
This was an acquisition loan.

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