Wayne Kaplan and Larry Morehead borrow $47.5M from Israel Discount Bank for assisted living facility in Yorkville

Wayne Kaplan and Larry Morehead through the entity Coast To Coast Assisted Living Realty, LLC as borrower signed a loan agreement with lender Israel Discount Bank Of New York valued at $47.5 million for 1 parcel, including the tax class adult care facility (I7) at 430 East 80th Street in Yorkville. The deal closed on November 29, 2019 and was recorded on December 19, 2019.
The new financing package includes new debt totaling $25 million. The financing was arranged by JLL.
The property contains a total of 38,106 square feet of built space.
The average loan per buildable square foot is $1,247.
The last time the property sold was December 19, 2011, for $26,400,156.

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 $90,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link