Jacob Tambor borrows $14.5M from Arbor Realty Trust for property in Bedford-Stuyvesant

Jacob Tambor through the entity Jam 18 Lex LLC as borrower signed a loan agreement with lender Arbor Realty Trust’s Arbor Commercial Funding I, LLC valued at $14.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 34 residential units at 818 Lexington Avenue in Bedford-Stuyvesant. The deal closed on October 28, 2020 and was recorded on November 17, 2020.
The property contains a total of 26,969 square feet of built space.
The average loan per unit is $426,471.
The last time the property sold was August 7, 2014, for $3,375,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 34 residential (or hotel) units on December 29, 2016.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 23,400 square feet. Those plans include a total of 34 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link