Jacob Berger signs $20M refi with New York Community in West Harlem

Jacob Berger through the entity Hp Logan Plaza Housing Development Fund Company, as borrower signed a refi loan with lender New York Community Bank through the entity New York Community Bank valued at $20.0 million for three properties including the 130-unit rental (D1) at 1423 Amsterdam Avenue in West Harlem, Manhattan, 130-unit rental (D1) at 1425 Amsterdam Avenue in West Harlem, Manhattan, and industrial (G7) at 489 West 130th Street in West Harlem, Manhattan.
The deal closed on April 27, 2021 and was recorded on May 19, 2021.
The three properties have 120,570 square feet of built space and 29,229 square feet of additional air rights for a total buildable of 149,904 square feet according to PincusCo analysis of city data. The loan price per built square foot is $165 and the price per buildable square foot is $133 per the PincusCo analysis.
The signatory for Jacob Berger was Jacob Berger.
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. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $140,000.
The owner according to the Department of Housing Preservation and Development is Jacob Berger, head officer. The business entity is NYC Partnership Housing Development.

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