Heskel’s Asset Management signs $8.6M refi with FourLeaf for 62-unit rental in Washington Heights

Heskel’s Asset Management through the entity Heskel’s FW Realty LLC as borrower signed a refi loan with lender FourLeaf Federal Credit Union through the entity Fourleaf Federal Credit Union valued at $8.6 million for the 62-unit residential elevator building (D1) at 567 Ft Washington Avenue in Washington Heights, Manhattan.
The deal closed on June 12, 2026 and was recorded on June 18, 2026. The prior lender was Webster Bank which held debt that had an original loan amount of $9.9 million.The property has 59,976 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $143 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Heskel’s Asset Management was Ramin Sarraf . The signatory for FourLeaf Federal Credit Union was Julian Cokro .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Ramin Sarraf, head officer and Elvis Debernardo, site manager. The business entities are Heskel’s Asset Management and Heskel’s FW Realty LLC. The 59,976-square-foot property generated revenue of $1.5 million or $25 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 62 residential units in Washington Heights has 59,976 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 150 feet and is 100 feet deep with a total lot size of 15,000 square feet. The zoning is R7-2 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $8 million. FourLeaf Federal Credit Union on June 12, 2026 bought a loan with an original principal of $9.9 million from Webster Bank signed by Gerard Marron , secured by 567 Ft Washington Avenue, when owned by Heskel’s Asset Management . The property has 57 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation, $3,750 in ECB penalties, and $1,300 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of 23 of the 38 commercial properties representing 1,259,317 square feet of the 1,664,139 square feet. The largest owner is Empire Management , followed by David Brecher and then Morris Schreiber.
On the tax block, there were two new building construction projects totaling 18,434 square feet. The largest is a 21-unit, 18,154 square-foot residential (R-2) building submitted by Yisroel Eckstein with plans filed September 11, 2020 and permitted June 9, 2022. The second largest is a 280 square-foot storage (S-2) building submitted by Tom Javits with plans filed January 18, 2018 and permitted August 17, 2018.

The majority, or 77 percent of the 1.7 million square feet of built space are elevator buildings, with walkup buildings next occupying 11 percent of the space.

The borrower

The PincusCo database currently indicates that Heskel’S Asset Management owned at least one commercial property in New York City with 65,186 square feet and a PincusCo-determined asset value of $12.5 million. The portfolio consists of at least a single office property.

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