Ogden Cap borrows $125M from JPMorgan Chase for 1,092-unit rental in Yorkville

Ogden Cap Properties through the entity Mf Associates Of New York LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $125 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 1,092 residential units at 1849 2nd Avenue in Yorkville. The deal closed on December 23, 2020 and was recorded on January 5, 2021.
The property contains a total of 968,264 square feet of built space.
The average loan per unit is $91,575.

Over the past five years, there have been 14 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 14 renovation/alteration projects (A2) applied for with a total estimated value of $2,374,567.
Direct link to Acris document. link