CW Realty borrows $15M from Harry Einhorn for school property in Crown Heights

Cheskie Weisz’s CW Realty through the entity 1499 Bedford LLC as borrower signed a loan agreement with lender Harry Einhorn through the entity EP Bedford Plaza LLC valued at $15 million for 1 parcel, including the tax class miscellaneous educational (W9) at 1499 Bedford Avenue in Crown Heights. The deal closed on September 18, 2020 and was recorded on October 13, 2020.
The property contains a total of 20,000 square feet of built space. The property has 66,306 square feet of available development rights.
The average loan per buildable square foot is $226.
Harry Einhorn provided $15 million and then Einhorn borrowed $9.785 million from Cross River Bank, and collaterally assigned the loan as security.

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 has been one new building permit application totaling 66,528 square feet. Those plans include a total of 98 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link