Michael Friedman borrows $6M from Ridgewood Savings Bank for property in Bronx

Michael Friedman through the entity Morris Towers LLC as borrower signed a loan agreement with lender Ridgewood Savings Bank valued at $5.8 million for 3 parcels, including the tax class multifamily, over six families without stores (C1) and containing 67 residential units at 2307 Morris Avenue, 2301 Morris Avenue, 2295 Morris Avenue in Bronx. The deal closed on September 20, 2019 and was recorded on September 26, 2019.
The property contains a total of 21,544 square feet of built space. The property has 25,587 square feet of available development rights.
The average loan per unit is $85,821.
The last time the property sold was October 27, 2009, for $1,375,000.

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Direct link to the city’s interactive property map, ZOLA. link

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