Mordehy Haber signs $22.5M refi for four properties in Manhattan

Mordehy Haber through the entity Dny1 150 Manhattan LLC as borrower signed a refi loan with lender Israel Discount Bank valued at $22.5 million for four properties with 76 residential units including the 20-unit residential elevator building (D1) at 118 East 91st Street in Carnegie Hill, Manhattan, 17-unit residential walkup building (C7) at 150 Manhattan Avenue in Upper West Side, Manhattan, and 20-unit residential walkup building (C5) at 338 East 53rd Street in Turtle Bay, Manhattan.
The deal closed on January 31, 2025 and was recorded on February 14, 2025. The four properties have 41,129 square feet of built space and 8,016 square feet of additional air rights for a total buildable of 49,140 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $547 and the price per buildable square foot is $457 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Mordehy Haber was attorney David R. Mashaal. The signatories for Israel Discount Bank were Marc Cooper and Elena Dokianos.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 317 West 74th Street.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Amit Attar, head officer and Rony Kravel, agent. The business entities are Livingston Management Services Llc and Dny1 74th Llc. Out of the four properties, three with a total of 41,129 square feet of built space generated revenue of $1.8 million per year.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received 20 housing violations and $5,000 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On the tax block of 317 West 74th Street, PincusCo has identified the owners of 15 of the 23 commercial properties representing 296,539 square feet of the 428,490 square feet. The largest owner is Brusco Group, followed by Harrison Street Real Estate Capital and then Eugenio Presta.
There are no active new building construction projects on this tax block.

The majority, or 43 percent of the 428,490 square feet of built space are hotel buildings, with walkup buildings next occupying 22 percent of the space.

The borrower

The PincusCo database currently indicates that Mordehy Haber owned at least 11 commercial properties with 235 residential units in New York City with 117,007 square feet and a city-determined market value of $27.6 million. (Market value is typically about 50% of actual value.) The portfolio has $38.7 million in debt, borrowed from Israel Discount Bank and Webster Bank. Within the portfolio, the bulk, or 58 percent of the 117,007 square feet of built space are walkup properties, with elevator properties next occupying 38 percent of the space. The bulk, or 95 percent of the built space, is in Manhattan, with Brooklyn next at 5 percent of the space.

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