Moshe Piller signs $35.9M refi with Signature Bank for 407 units in NYC

Moshe Piller signed a $35.9 million refinance with Signature Bank for 407 units in six properties in five separate transactions in New York City.

In the largest, Moshe Piller through the entity 172nd Street Realty, LLC as borrower signed a refi loan with lender Signature Bank valued at $9.3 million for the 91-unit rental (D7) at 1750 East 172nd Street in Soundview, Bronx.
The deal closed on June 12, 2021 and was recorded on November 23, 2021.
The property has 111,500 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $83 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on May 20, 2004, for $6.5 million.
The signatory for Moshe Piller was Moshe Piller.
(220241478)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 91 residential units on January 14, 2014.
The owner according to the Department of Housing Preservation and Development is Moshe Piller, head officer. The business entity is 172nd Street Realty Llc.
Within a 400-foot radius of 1750 East 172nd Street, Pincusco identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, two were loans above $5 million totaling $23.9 million. The most recent of the two was Pistilli Realty which borrowed $5.5 million from Signature Bank secured by the 48,000-square-foot, 49-unit rental (C7) on 1770 East 172nd Street on January 14, 2021.

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In the second, Moshe Piller through the entity 710 Hunts Point Equities LLC as borrower signed a refi loan with lender Signature Bank valued at $8.2 million for two rentals including the 48-unit rental (D1) at 720 Hunts Point Avenue in Hunts Point, Bronx and 42-unit rental (D1) at 710 Hunts Point Avenue in Hunts Point, Bronx.
The deal closed on March 12, 2021 and was recorded on November 23, 2021.
The two properties have 94,050 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $87 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Moshe Piller was Moshe Piller.

The owner according to the Department of Housing Preservation and Development is Moshe Piller, head officer. The business entity is 710 Hunts Point Equities Llc.
Within a 400-foot radius of 710 Hunts Point Avenue, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Isaac Gutman borrowed $6.7 million from Sterling National Bank secured by the 46,550-square-foot, 49-unit rental (D1) on 735 Bryant Avenue on March 6, 2020.

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In the third, Moshe Piller through the entity Claflin Apartments LLC as borrower signed a refi loan with lender Signature Bank valued at $7 million for the 83-unit rental (D1) at 2757 Claflin Avenue in Kingsbridge Heights, Bronx.
The deal closed on March 12, 2021 and was recorded on November 23, 2021.
The property has 103,200 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $67 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Moshe Piller was Moshe Piller.

The owner according to the Department of Housing Preservation and Development is Moshe Piller, head officer. The business entity is Claflin Apartments Llc.
Within a 400-foot radius of 2757 Claflin Avenue, Pincusco identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, four were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $2.1 million, one permit with a total initial cost of $569,500.0 and one initial temporary certificate of occupancy issuance for a project that initially costed $580,681.0. The most recent of these four items was the filing on August 17, 2021 for a 11,559-square-foot R-2 building with 19 residential units at 2783 Webb Avenue.
Of those six items, two were loans above $5 million totaling $13.4 million. The most recent of the two was Mayer Weber which borrowed $5.2 million from Northeast Community Bank secured by the 2,816-square-foot, nine-unit rental (C1) on UNIVERSITY Avenue and one other property on December 21, 2020.

Direct link to Acris document. link