LIHC Investment Group refis $88.8M with ORIX for property in Upper Manhattan
LIHC Investment Group refinanced $88.8 million with ORIX Real Estate Capital in four transactions in Upper Manhattan.
In the first, LIHC Investment Group through the entity Metro Court Redevelopment Associates Lp as borrower signed a loan agreement with lender ORIX Real Estate Capital through the entity Orix Real Estate Capital LLC valued at $26.3 million for 2 parcels, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 91 residential units at 1952 2nd Avenue and 306 East 100th Street in East Harlem. The deal closed on December 17, 2020 and was recorded on January 6, 2021.
The average loan per unit is $289,415.
RED Mortgage Capital is a division of ORIX Real Estate Capital.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Direct link to Acris document. link
In the second, LIHC Investment Group through the entity Columbus Avenue Redevelopment Company Lp as borrower signed a loan agreement with lender ORIX Real Estate Capital through the entity Orix Real Estate Capital LLC valued at $25.0 million for 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 122 residential units at 921 Columbus Avenue and 980 Columbus Avenue in the Upper West Side. The deal closed on December 17, 2020 and was recorded on January 6, 2021.
The property contains a total of 24,900 square feet of built space. The property has 92,435 square feet of available development rights.
The average loan per unit is $204,918.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
Direct link to Acris document. link
In the third, LIHC Investment Group through the entity Manhattan Avenue Associates Lp as borrower signed a loan agreement with lender ORIX Real Estate Capital through the entity Orix Real Estate Capital LLC valued at $19.0 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 81 residential units at 152 Manhattan Avenue in the Upper West Side. The deal closed on December 17, 2020 and was recorded on January 6, 2021.
The property contains a total of 62,898 square feet of built space.
The average loan per unit is $234,568.
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 $389,970.
Direct link to Acris document. link
In the fourth, LIHC Investment Group through the entity 141 Street Associates L P as borrower signed a loan agreement with lender ORIX Real Estate Capital through the entity Orix Real Estate Capital, LLC valued at $18.5 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 83 residential units at 1640 Amsterdam Avenue and 1626 Amsterdam Avenue in Hamilton Heights. The deal closed on December 17, 2020 and was recorded on January 6, 2021.
The property contains a total of 29,350 square feet of built space. The property has 92,350 square feet of available development rights.
The average loan per unit is $222,410.
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 $345,000.
Direct link to Acris document. link