Weinreb Management borrows $44M from Capital One to refi UWS multifamily property

Jacob Weinreb’s Weinreb Management borrowed $44 million from Capital One to refinance multifamily property one the Upper West Side in two separate transactions.

In the first, Jacob Weinreb’s Weinreb Management through the entity 5 West 86 Street Associates LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $28.8 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 68 residential units at 5 West 86th Street in the Upper West Side. The deal closed on May 18, 2020 and was recorded on May 26, 2020.
The property contains a total of 116,021 square feet of built space.
The average loan per unit is $423,162.
The debt was increaed from $27 million in 2015.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $636,375.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. linklink
Direct link to the city’s interactive property map, ZOLA. link