Yeheksel Elias borrows $14.3M from New York Community Bank for property in Lenox Hill

Yeheksel Elias through the entity Elias On Third LLC as borrower signed a loan agreement with lender New York Community Bank valued at $14.3 million for 1 parcel, including the tax class bank building with or without parking (K7) at 991 Third Avenue in Lenox Hill. The deal closed on July 10, 2020 and was recorded on July 20, 2020.
The property contains a total of 7,444 square feet of built space. The property has 16,074 square feet of available development rights.
The average loan per buildable square foot is $890.
The financing includes a $361,713 gap loan. The last time the property sold was February 22, 2012, for $18,420,000.

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