Morgan Group borrows $33M from Morgan Stanley Bank for property in Riverdale

Morgan Group through the entity 323 East Mosholu LLC D as borrower signed a loan agreement with lender Morgan Stanley Bank valued at $33.3 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 211 residential units at 323 E Mosholu Parkway N, 2952 Marion Avenue, 2552 University Avenue, 3205 Grand Concourse in Riverdale. The deal closed on December 19, 2019 and was recorded on January 27, 2020.

The average loan per unit is $157,820.
Prior lenders included New York Community Bank. The last time at least one of the properties sold was July 18, 2013, for $6,850,000.

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 were 2 renovation/alteration projects (A2) applied for with a total estimated value of $1,414,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link