Chaim Simkowitz obtained financing of $8M from Capital One

Chaim Simkowitz through the entity 45 Wadsworth L.P. as borrower signed a loan agreement with lender Capital One, National Association valued at $8.3 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 50 residential units at 45 Wadsworth Terrace in Washington Heights. The deal closed on September 03, 2019 and was recorded on September 05, 2019.
The property contains a total of 48,083 square feet of built space.
The average loan per unit is $166,000.
The last time the property sold was September 02, 2015, for $10,000,000.

Over the past five years, there have been 7 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 $522,250. Those filings sought to increase the number of residential units by 5 to 55 There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $307,950.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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