Weinreb secures $91M to refi two UWS rental buildings

Capital One provided the loans for 350 CPW and 255 West 88th Street
By Miriam Hall | February 16, 2017 12:10PM

255 West 88th Street and 350 Central Park West

Jacob Weinreb’s Weinreb Management locked down $91 million to refinance two rental buildings on the Upper West Side.

Capital One provided the financing, according to property records filed with the city Thursday. A $50 million loan was for a 145-unit rental building at 350 Central Park West, and a $41 million loan was for a 74-unit rental at 255 West 88th Street. Both buildings also feature a ground-floor retail component.

The $50 million loan for the 16-story, 291,500-square-foot Central Park West property consolidates a new $14 million mortgage and replaces a $40 million loan from Santander Bank that was issued in 2012. The $41 million loan for the 14-story, 164,530-square-foot building on West 88th Street replaces a $31 million loan, also provided by Santander Bank in 2012, and consolidates a new $13.1 million mortgage.

Representatives for Weinreb Management and Capital One were not immediately available for comment.

In 2013, a lesbian couple living in a rent-stabilized apartment of Weinreb’s on West 86th Street sued him for refusing to put both women’s names on the lease.