Peterson Capital borrows $8M from Arbor Realty Trust for multifamily property in Hamilton Heights

Douglas Peterson’s Peterson Capital through the entity 554 W 148 LLC as borrower signed a loan agreement with lender Arbor Realty Trust through the entity Arbor Commercial Funding I, LLC valued at $8.0 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 22 residential units at 554 West 148th Street in Hamilton Heights. The deal closed on December 27, 2019 and was recorded on February 3, 2020.
The property contains a total of 17,013 square feet of built space.
The average loan per unit is $363,773.
The last time the property sold was August 7, 2009, for $1,825,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $272,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link