Hirschfeld Properties borrows $15M from Wells Fargo for office property in Yorkville

Elie Hirschfeld’s Hirschfeld Properties through the entity Vertical Projects NYC, LLC as borrower signed a loan agreement with lender Wells Fargo Bank valued at $14.9 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 207 East 94th Street in Yorkville. The deal closed on April 29, 2020 and was recorded on May 1, 2020.
The property contains a total of 38,655 square feet of built space.
The average loan per buildable square foot is $384.
This is the initial debt after Hirschfeld acquired the property December 11, 2019, for $28.5 million. The Icahn School of Medicine signed a lease in the building earlier this year.

Over the past five years, there have been 9 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 $3,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $1,674,850.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link