Neil Edelman refis 110 units in Sheepshead Bay with $22.8M from Greystone & Co.

Neil Edelman through the entity Georgetown Associates, L.L.C. as borrower signed a loan agreement with lender Greystone & Co. through the entity Greystone Servicing Company LLC valued at $22.8 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 110 residential units at 2350 Ocean Avenue in Sheepshead Bay. The deal closed on January 28, 2021 and was recorded on February 3, 2021.
The property contains a total of 130,842 square feet of built space. The property has 130,842 square feet of available development rights.
The average loan per unit is $207,455.
The last time the property sold was April 30, 2013 for $1,810,281.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $2,000.0.

Direct link to Acris document. link
The signatory for the buyer or lender was Kristie Reinhardt