The Feil Organization through the entity Clermont York 82nd Street LLC as borrower signed a loan agreement with lender Capital One valued at $70 million for the leasehold on the 415-unit rental building the Clermont at 444 East 82nd Street with the alternate address 1533 York Avenue, in Yorkville. The deal closed on October 16, 2019 and was recorded on October 25, 2019.
The property contains a total of 502,595 square feet of built space.
The average loan per unit is $168,675.
The loan Jeffry Feil’s Feil Organization took out includes new debt totaling $29.325 million in a gap mortgage, which was added to the existing $40.675 million in debt Capital One provided in July 2014. The Feil Organization is the ground lessee on property owned by Marsia Holzer’s York Terrace, Inc. The Estate of Sol Goldman, also known as Solil Management, holds a $2.25 million mortgage from York Terrace, Inc., which owes that sum along with interest payments until the loan comes due in 2023. The Feil Organization, simultaneously with the execution of the additional debt, assigned the ground lease from one entity it controls, Clermont York Associates LLC to another one it controls, Clermont York 82nd Street LLC. It was the second entity that borrowed the new debt.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $1,689,485.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link