Mendel Guttman borrows $8M from JPMorgan Chase Bank for property in Lower East Side

Mendel Guttman through the entity 37 Essex Street Corp. as borrower signed a loan agreement with lender JPMorgan Chase Bank N.A. valued at $7.7 million for the 30-unit rental at 35 Essex Street in the Lower East Side. The deal closed on September 12, 2019 and was recorded on September 24, 2019.
The property contains a total of 26,306 square feet of built space and has the tax class multifamily, converted (D5).
The average loan per unit is $255,000.

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