Joel Schwartz borrows $17M from Berkadia for condo units in Williamsburg

Joel Schwartz through the entity South 1 Holdings LLC as borrower signed a loan agreement with lender Berkadia Commercial Mortgage LLC valued at $17.1 million for 14 parcels, including the tax class 2-10 unit residential condominium, residential unit (R1) and containing 21 residential units at 207 South 1st Street, 209 South 1st Street and 217 South 1st Street in Williamsburg. The deal closed on November 18, 2020 and was recorded on December 11, 2020.

The average loan per unit is $814,286.
This is a condo inventory loan.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link