Morris Weinberg (authorized signatory) borrows $38M from Capital One for multifamily property in Highbridge

Morris Weinberg (authorized signatory) through the entity Anderson A LLC as borrower (and others) signed a loan agreement with lender Capital One valued at $38.3 million for 4 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 263 residential units at 1210 Woodycrest Avenue, 1230 Woodycrest Avenue, 1220 Shakespeare Avenue, 1187 Anderson Avenue in Highbridge. The deal closed on October 29, 2019 and was recorded on November 7, 2019.
The property has 306,132 square feet of available development rights.
The average loan per unit is $145,437.
The last time one of the properties sold was November 28, 2017, for $6,550,000.

Over the past five years, there has been one NYC Department of Buildings permit application 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 $25,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link