Hasan Biberaj borrows $12M from SBT Advantage Bank for property in Highbridge

Hasan Biberaj through the entity West 170th Realty Inc as borrower signed a loan agreement with lender SBT Advantage Bank valued at $12 million for 6 parcels, including the tax class garage with two or more stories (G1) at 1355 Cromwell Avenue, 1361 Cromwell Avenue, Cromwell Avenue, 1347 Cromwell Avenue, 1345 Cromwell Avenue, and others in Highbridge. The deal closed on January 28, 2020 and was recorded on February 12, 2020.
The property has 336,029 square feet of available development rights.
The average loan per buildable square foot is $36.

Over the past five years, there has been one NYC Department of Buildings permit application 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 $145,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link