Robert Morgenstern borrows $7M from Signature Bank for property in Park Slope

Robert Morgenstern through the entity MCAP 286 Fifth LLC as borrower signed a loan agreement with lender Signature Bank valued at $7 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 22 residential units at 286 Fifth Avenue in Park Slope. The deal closed on July 7, 2020 and was recorded on August 17, 2020.
The property contains a total of 11,137 square feet of built space. The property has 12,062 square feet of available development rights.
The average loan per unit is $318,182.
The last time the property sold was December 13, 2017, for $8,300,000.

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 $849,900.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link