Mark Scharfman borrows $7.4M from First Republic to refi 87-unit rental in Washington Heights

Mark Scharfman through the entity One Arden Partners, L.P. as borrower signed a loan agreement with lender First Republic Bank valued at $7.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 87 residential units at 126 Nagle Avenue in Washington Heights. The deal closed on June 22, 2020 and was recorded on August 25, 2020.
The property contains a total of 66,056 square feet of built space.
The average loan per square foot is $112.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $288,050.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link