Leslie Westreich borrows $9.7M from New York Community for 49-unit rental in Clinton Hill

Leslie Westreich through the entity 420 Clinton LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.7 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 49 residential units at 419 Vanderbilt Avenue in Clinton Hill. The deal closed on December 11, 2020 and was recorded on January 15, 2021.
The property contains a total of 60,720 square feet of built space.
The average loan per unit is $198,612.
Adam Westreich has a company called Hazelton Capital Group at the same address as the ownership LLC of this property. The last time the property sold was March 26, 2008 for $7,500,000.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $137,800.

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