Morris Schreiber borrows $18M from Apple Bank For Savings for UWS multifamily property

Morris Schreiber through the entity West 88 Street LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $18 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 116 residential units at 205 West 88th Street in the Upper West Side. The deal closed on July 2, 2020 and was recorded on July 13, 2020.
The property contains a total of 96,058 square feet of built space.
The average loan per unit is $155,172.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 113 residential (or hotel) units on July 10, 2015.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $441,347.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link