Morris Schreiber borrows $28M from Apple Bank to refi 129-unit UWS rental

Morris Schreiber through the entity Oxford Towers Co., LLC as borrower signed a loan agreement with lender Apple Bank for Savings valued at $28 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 129 residential units at 280 Riverside Drive in the Upper West Side. The deal closed on July 2, 2020 and was recorded on July 9, 2020.
The property contains a total of 211,041 square feet of built space.
The average loan per unit is $217,054.
Apple Bank refinanced a $28 million loan New York Community Bank provided in 2015.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $98,300. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $868,433.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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