Chestnut Holdings buys $2M note secured by Victor Weingarten’s commercial building in Mott Haven

Chestnut Holdings through the entity Mott Haven Improvement Group LP bought a note with an original principal of $1.98 million from Dime Community Bank secured by Victor Weingarten’s office building (O1) at 136 Canal Street West in Mott Haven, Bronx.
The deal closed on March 29, 2021 and was recorded on June 4, 2021.
The property has 2,823 square feet of built space and 50,557 square feet of additional air rights for a total buildable of 53,500 square feet according to PincusCo analysis of city data.
The owner bought the property on 27-Apr-11, for $3.3 million.
Over the past five years, there has been one NYC Department of Buildings permit application 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 $1,000.
Victor Weingarten is a taxi medallion owner and real estate developer.

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