Minrav Development borrows $30.7M from Bank Leumi for 21-unit property in Yorkville

Minrav Development through the entity 427 E 90 Owner LLC as borrower signed a loan agreement with lender Bank Leumi Usa valued at $30.7 million for 1 parcel, including the tax class office building with two to six stories (O2) and containing 21 residential units at 427 East 90th Street in Yorkville. The deal closed on September 22, 2020 and was recorded on October 8, 2020.
The property contains a total of 33,483 square feet of built space.
The average loan per unit is $1,380,952.
The signatories for Minrav were Yehuda Mor and Lior Carucci. The last time the property sold was October 26, 2016, for $17,100,000.

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 has been one new building permit application totaling 29,687 square feet. Those plans include a total of 21 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link