L+M Development Partners signs $5.8M acquisition loan for industrial in Inwood

L+M Development Partners through the entity Harlem River Ninth Avenue Development LLC as borrower signed a acquisition loan with lender Estates of Beatrice and Faye Altschuler through the entity Estate Of Beatrice Altschuler valued at $5.8 million for the industrial (G7) at 408 West 207th Street in Inwood, Manhattan.
The deal closed on May 6, 2021 and was recorded on May 24, 2021.
The property has 0 square feet of built space and 150,279 square feet of additional air rights for a total buildable of 150,279 square feet according to PincusCo analysis of city data. The loan price per built square foot is $N/A and the price per buildable square foot is $38 per the PincusCo analysis.
The signatory for L+M Development Partners was David Dishy.

This is a purchase money mortgage.

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