Leonard Wilf’s Garden Homes borrows $20M from Capital One to refi prep school property in Financial District

Leonard Wilf’s Garden Homes through the entity Walwilhal Associates, LLC as borrower signed a loan agreement with lender Capital One valued at $20 million for 1 parcel, including the tax class private schools (W8) at 41 Broad Street in Financial District. The deal closed on April 30, 2020 and was recorded on May 6, 2020.
The property contains a total of 91,553 square feet of built space. The property is occupied by the Léman Manhattan Preparatory School.
The average loan per buildable square foot is $180.
The financing includes an $8.9 million gap mortgage.

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 $300,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article