Cheskel Schwimmer borrows $163M from Prime Group for 215-unit rental in Mott Haven

Cheskel Schwimmer through the entity Deegan 135 Realty LLC as borrower signed a loan agreement with lender Prime Group through the entity Prime Finance Short Duration Holding Company valued at $163 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 215 residential units at 198 East 135th Street in Mott Haven. The deal closed on March 5, 2021 and was recorded on March 23, 2021.
The property contains a total of 211,975 square feet of built space.
The average loan per unit is $758,140.
The financing package includes a $23 million gap loan and pays off a loan from S3 Capital. The lender is Prime Group.
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