Leviathan Capital signs $4.2M refi with JLL for 15-unit walkup in Morris Heights

Leviathan Capital through the entity 1907 Harrison LLC as borrower signed a refi loan with lender JLL through the entity JLL Real Estate Capital LLC valued at $4.2 million for the 15-unit residential walkup building (C1) at 1907 Harrison Avenue in Morris Heights, Bronx.
The deal closed on June 6, 2025 and was recorded on June 18, 2025. The prior lender was Daniel Group which held debt that had an original loan amount of $3 million.The property has 10,275 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $410 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on April 22, 2021, for $510,000. The signatory for Leviathan Capital was Yaniv Cohen . The signatory for JLL was Taylor Robb.

Prior sales and revenue

The 10,275-square-foot property generated revenue of $326,642 or $32 per square foot, according to the most recent income and expense figures.

The property

The residential walkup building with 15 residential units in Morris Heights has 10,275 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 30 feet and is 99 feet deep with a total lot size of 2,970 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.3 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $500 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, X00594958, for a 15-unit, 9,743 square-foot R-2 building. The project was submitted by Yaniv Cohen with plans filed September 24, 2021 and permitted March 1, 2022.

The block

On this tax block, PincusCo has identified the owners of seven of the 13 commercial properties representing 192,626 square feet of the 372,576 square feet. The largest owner is Yechiel Newhouse, followed by Robert Khomari and then New York City Housing Authority.
On the tax block, there were two new building construction projects totaling 37,484 square feet. The largest is a 47-unit, 27,740 square-foot residential (R-2) building submitted by Chaim Schwartz with plans filed June 10, 2022 and permitted January 19, 2023. The second largest is a 15-unit, 9,743 square-foot residential (R-2) building submitted by Yaniv Cohen with plans filed September 24, 2021 and permitted March 1, 2022.

The majority, or 70 percent of the 372,576 square feet of built space are walkup buildings, with elevator buildings next occupying 15 percent of the space.

The borrower

The PincusCo database currently indicates that Leviathan Capital owned at least five commercial properties with 42 residential units in New York City with 22,965 square feet and a city-determined market value of $6.9 million. (Market value is typically about 50% of actual value.) The portfolio has $12 million in debt, with top three lenders as JLL, Leviathan Capital, and Rossmils Investments respectively. Within the portfolio, the bulk, or 56 percent of the 22,965 square feet of built space are walkup properties, with retail properties next occupying 44 percent of the space. The bulk, or 56 percent of the built space, is in Manhattan, with Brooklyn next at 44 percent of the space.

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