CW Realty borrows $38M from Dime Community Bank for property in Williamsburg

Cheskie Weisz’s CW Realty through the entity 61 North 11 LLC as borrower signed a loan agreement with lender Dime Community Bank valued at $38 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 94 North 12th Street in Williamsburg. The deal closed on July 8, 2020 and was recorded on July 14, 2020.
The property contains a total of 39,865 square feet of built space.
The average loan per buildable square foot is $887.
Jonathan Lewis and his JLJ Capital assigned its $38 million in debt to Dime Community Bank, secured by the CW Realty property. The loan was split into two pieces, one for $32 million and one for $6 million. The debt has been assigned several times since CW Realty bought the property on May 23, 2017, for $35.5 million.

Over the past five years, there have been 3 NYC Department of Buildings permit applications 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 $1,533,844. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $697,070.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link