Honeycomb Asset Management exec borrows $28M from Bank of America for property in the Upper East Side

UPDATED 9:32 a.m. October 14, 2019: David and Sarah Fiszel, through the entity 10 East 78th Street LLC as borrower, inked a loan agreement with lender Bank of America valued at $28.0 million for 10 East 78th Street in the Upper East Side, a townhouse converted from a multifamily property. The deal closed on August 29, 2019 and was recorded on October 11, 2019. David Fiszel, a former executive with SAC Capital, launched and runs the hedge fund Honeycomb Asset Management.

He and his wife sold a property last year in Palm Beach to former Apple executive John Scully for $14.925 million.
The property contains a total of 10,105 square feet of built space. The property has 531 square feet of available development rights.
The last time the property sold was July 10, 2014, when the Fiszels bought it for $19,250,000, according to property records.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on October 19, 2018.
Over the past five years, there have been 2 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 $5,184,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $95,900.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Clarification: The post was updated to include that David and Sarah Fiszel are owners of 10 East 78th Street, according to city property records.