Cheskie Weisz borrows $10M from Valley National Bank for property in East Williamsburg

Cheskie Weisz through the entity 85 Graham Realty LLC as borrower signed a loan agreement with lender Valley National Bank valued at $9.5 million for 1 parcel, including the tax class retail building with apartments above (K4) and containing 15 residential units at 83 Graham Avenue in East Williamsburg. The deal closed on September 10, 2019 and was recorded on October 8, 2019.
The property contains a total of 13,676 square feet of built space.
The average loan per unit is $633,333.
The last time the property sold was January 5, 2017, for $5,350,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 15 residential (or hotel) units on July 2, 2019.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $685,075. Those filings sought to increase the number of residential units by 30 to 34 There was one renovation/alteration project (A2) applied for with a total estimated value of $479,150.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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