Toby Moskovits’ Heritage Equity Partners borrows $8M from Soho-based investors for property in Mott Haven

Toby Moskovits’ Heritage Equity Partners through the entity 286 Rider Ave Acquisition LLC as borrower executed a loan agreement with Doron Aviv and others through lender Be-Aviv 286 Rider LLC valued at $8.0 million for the warehouse (E1) at 286 Rider Avenue in Mott Haven. The deal closed on September 19, 2019 and was recorded on September 30, 2019.
The property contains a total of 20,555 square feet of built space. The property has 63,656 square feet of available development rights.
The average loan per buildable square foot is $95.

The Be-Aviv entity is located at the same address as the Be-Aviv Fund I, which was formed in 2017 and raised $9.4 million, according to U.S. Securities and Exchange filings.

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 have been 2 new building permit applications totaling 117,562 square feet. Those plans include a total of 129 residential or hotel units.
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