Moujan Vahdat borrows $17.9M from Metropolitan Commercial to refi multifamily property in East Harlem

Moujan Vahdat through the entity K & V Realty Corp. as borrower signed a loan agreement with lender Metropolitan Commercial Bank valued at $17.9 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 67 residential units at 2105 1st Avenue, 2109 1st Avenue in East Harlem. The deal closed on July 2, 2020 and was recorded on July 13, 2020.

The average loan per unit is $266,418.
The debt was reduced from the prior maximum of $18.5 million.

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 $65,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link