Simcha Applegrad borrows $7.8M from BankUnited to refi multifamily property in University Heights

Simcha Applegrad through the entity Loring Place Realty LLC as borrower signed a loan agreement with lender BankUnited valued at $7.8 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 63 residential units at 171 West Burnside Avenue in University Heights. The deal closed on March 17, 2020 and was recorded on May 12, 2020.
The property contains a total of 65,280 square feet of built space.
The average loan per unit is $123,810.
The last time the property sold was February 25, 2014, for $7,650,000.

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Direct link to the city’s interactive property map, ZOLA. link

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