David Nierenberg borrows $12M from New York Community Bank for multifamily property in Midwood

David Nierenberg through the entity 1402 Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $12.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 96 residential units at 1402 Avenue K in Midwood. The deal closed on January 22, 2020 and was recorded on January 30, 2020.
The property contains a total of 108,000 square feet of built space.
The average loan per unit is $129,167.

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

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