Simcha Applegrad refis $8M with Signature Bank for 40-unit rental in Tremont

Simcha Applegrad through the entity Walton Avenue Realty Associates LLC as borrower signed a loan agreement with lender Signature Bank valued at $8.4 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 40 residential units at 1405 Walton Avenue in Tremont. The deal closed on January 10, 2021 and was recorded on March 10, 2021.
The property contains a total of 38,266 square feet of built space.
The average loan per unit is $209,579.
The last time the property sold was December 6, 2011 for $5,875,000.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $218,075.

Direct link to Acris document. link
The signatory for the lender was Kenneth A. Stagnari.