Jonathan Ostrow borrows $6M from Capital One for property in East Village

Jonathan Ostrow through the entity Jd 243 LLC as borrower signed a loan agreement with lender Capital One valued at $5.5 million for 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 10 residential units at 243 East 2nd Street in East Village. The deal closed on October 11, 2019 and was recorded on October 21, 2019.
The property contains a total of 7,545 square feet of built space. The property has 2,048 square feet of available development rights.
The average loan per buildable square foot is $573.
The last time the property sold was January 31, 2011, for $1,400,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 10 residential units on August 22, 2014.

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