Copperwood borrows $16.1M from First Republic Bank for multifamily property in Yorkville

Robert Lemle’s Copperwood Real Estate borrowed $16.1 million from First Republic Bank for multifamily property in Yorkville in two separate transactions.

In the first, Copperwood Real Estate through the entity RSL 315-319 East 84th LLC as borrower signed a loan agreement with lender First Republic Bank valued at $8.3 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 35 residential units at 315 East 84th Street in Yorkville. The deal closed on July 29, 2020 and was recorded on September 1, 2020.
The property contains a total of 21,618 square feet of built space.
The average loan per unit is $237,143.
The last time the property sold was December 26, 2012, for $4,100,000.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $96,250.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, Copperwood Real Estate through the entity RSL 232-234 East 83rd LLC as borrower signed a loan agreement with lender First Republic Bank valued at $7.8 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 40 residential units at 234 East 83rd Street, 232 East 83rd Street in Yorkville. The deal closed on July 29, 2020 and was recorded on September 1, 2020.
The property contains a total of 12,260 square feet of built space.
The average loan per unit is $193,750.
The last time the property sold was December 26, 2012, for $10,200,000.

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