Leopold Friedman borrows $39M from Keybank for nursing home property in Kingsbridge

Leopold Friedman through the entity 3400 Cannon Place LLC as borrower signed a loan agreement with lender Keybank valued at $39.2 million for 1 parcel, including the tax class nursing home (I6) at 3400 Cannon Place in Kingsbridge. The deal closed on October 31, 2019 and was recorded on November 8, 2019.
The property contains a total of 133,660 square feet of built space.
The average loan per buildable square foot is $293.
The last time the property sold was September 4, 2015, for $30,000,000.

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. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $10,977,320. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $4,097,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link