Simcha Applegrad borrows $13M from Arbor Realty Trust for multifamily property in Fordham

Simcha Applegrad through the entity 2427 Webster Realty LLC as borrower signed a loan agreement with lender Arbor Commercial Funding I, LLC valued at $12.8 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 105 residential units at 2421 Webster Avenue in Fordham. The deal closed on February 28, 2020 and was recorded on March 9, 2020.
The property contains a total of 98,922 square feet of built space.
The average loan per unit is $121,905.
The last time the property sold was June 20, 2013, for $11,040,388.

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 $40,925.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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