Copperwood Real Estate borrows $8M from New York Community Bank to refi multifamily property in Yorkville

Robert Lemle’s Copperwood Real Estate through the entity RSL 428 East 89th LLC and RSL 430 East 89th LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.5 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 40 residential units at 430 East 89th Street, 428 East 89th Street in Yorkville. The deal closed on April 3, 2020 and was recorded on April 10, 2020.
The property has 20,143 square feet of available development rights.
The average loan per unit is $188,500.
The last time at least one of the properties sold was December 26, 2012, for $4,250,000.

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