Werber Real Estate signs $8.2M refi with Chase for 75-unit rental elevator in Elmhurst

Werber Real Estate through the entity Damar Apartments, LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $8.2 million for the 75-unit residential elevator building (D1) at 75-06 Woodside Avenue in Elmhurst, Queens.
The deal closed on January 30, 2026 and was recorded on February 4, 2026. The prior lender was Santander Bank which held debt that had an original loan amount of $8 million.The property has 52,553 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $156 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on May 1, 2008, for $313,848. The signatory for Werber Real Estate was Benjamin Werber . The signatory for JPMorgan Chase was Ursula Flores .

Prior sales, articles and revenue

The owners according to the Department of Housing Preservation and Development includes Benjamin Werber, head officer and David Werber, shareholder. The business entities are Werber Management and Damar Apts, Llc. The 52,553-square-foot property generated revenue of $1.4 million or $27 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 75 residential units in Elmhurst has 52,553 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 80 feet and is 134 feet deep with a total lot size of 10,870 square feet. The zoning is R6B which allows for up to 2 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $6 million. The property has 60 rent regulated units according to city tax records from 2024.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation, one housing violation, and $750 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of four of the 11 commercial properties representing 66,407 square feet of the 113,244 square feet. The largest owner is Werber Management, followed by Conmemoracion Quiambao and then Chusing Lin.
There are no active new building construction projects on this tax block.

The majority, or 46 percent of the 113,244 square feet of built space are elevator buildings, with walkup buildings next occupying 44 percent of the space.

The borrower

The PincusCo database currently indicates that Werber Real Estate owned at least five commercial properties with 148 residential units in New York City with 184,124 square feet and a city-determined market value of $34.1 million. (Market value is typically about 50% of actual value.) The portfolio has $40.8 million in debt, with top three lenders as JPMorgan Chase, Flushing Bank, and Kearny Bank respectively. Within the portfolio, the bulk, or 49 percent of the 184,124 square feet of built space are elevator properties, with office properties next occupying 30 percent of the space. They are all located in Queens.

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