Leopold Friedman borrows $136M from Greystone & Co. for nursing home property in University Heights

Leopold Friedman through the entity Tcprnc LLC as borrower signed a loan agreement with lender Greystone & Co. valued at $135.6 million for 3 parcels, including the tax class nursing home (I6) at 100 West Kingsbridge Road, 2553 University Avenue, 2545 University Avenue in University Heights. The deal closed on December 5, 2019 and was recorded on December 18, 2019.

The average loan per buildable square foot is $287.
The last time the properties sold was September 20, 2016, for $110,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for one of the buildings on August 21, 2013.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $2,164,596.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link