Lawrence Jemal’s ICER Properties borrows $8M from TD Bank for 31 units in Hamilton Heights

Joseph and Lawrence Jemal’s ICER Properties through the entity Icer Of 111 West 136th Street LLC as borrower signed a loan agreement with lender TD Bank valued at $8 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 31 residential units at 385 Convent Avenue, 383 Convent Avenue, 111 West 136th Street, 160 West 141st Street in Hamilton Heights. The deal closed on December 10, 2019 and was recorded on September 9, 2020.

The average loan per unit is $258,065.
The financing includes $3.9 million in new debt. ICER acquired two of the parcels on June 12, 2017, for $2,650,000. The signatories for ICER were Joseph Jemal and Lawrence Jemal.

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