Grunfeld, Wieder borrow $15.2M from Berkadia Commercial for 25-unit rental in East Williamsburg

David Grunfeld and Joel Wieder through the entity GW Union LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $15.2 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 25 residential units at 288 Union Avenue in East Williamsburg. The deal closed on December 9, 2020 and was recorded on December 31, 2020.
The property contains a total of 20,221 square feet of built space.
The average loan per unit is $609,360.
The last time the property sold was October 29, 2018 for $5,380,000.
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.

There has been one new building permit application Those plans include a total of 25 residential units.
There has been one demolition project filed for the parcels over the past five years.

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