Elias Kefalidis’s KLM Equities borrows $42M from AIG for multifamily property in Yorkville

Elias Kefalidis’s KLM Equities through the entity 3rd And 87th, L.P as borrower signed a loan agreement with lender AIG, valued at $42.0 million for 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 195 residential units at 1533 3rd Avenue, 206 East 87th Street in Yorkville. The deal closed on November 27, 2019 and was recorded on December 2, 2019.
The property contains a total of 222,000 square feet of built space. The property has 247,160 square feet of available development rights.
The average loan per unit is $215,385.
The last time the property sold was March 15, 2019, for $41,660,460.

Over the past five years, there have been 8 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 $10,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $1,224,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link