Morris Platt borrows $15.1M from New York Community Bank for LES multifamily

Morris Platt through the entity 91/93/95 Highgate LLC as borrower signed a loan agreement with lender New York Community Bank valued at $15.1 million for 3 parcels, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 44 residential units at 95 Attorney Street in the Lower East Side. The deal closed on July 8, 2020 and was recorded on July 17, 2020.
The property contains a total of 32,998 square feet of built space.

The loan refinances $11.5 million provided by TD Bank in 2018 and adds a $3.6 million gap loan. The last time the property sold was October 31, 2013, for $1,400,000.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $55,800. 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