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New York

Weinreb secures $91M to refi two UWS rental buildings

Capital One provided the loans for 350 CPW and 255 West 88th Street

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/255-West-88-Street-New-York-NY-10024/1012360010-0" target="_blank" data-address="255%20West%2088%20Street%2C%20New%20York" data-label="255%20West%2088th%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F255-West-88-Street-New-York-NY-10024%2F1012360010-0" data-bbl="1012360010" data-blockValue="01236" data-lotValue="0010" data-zipcode="10024" data-bldgArea="164%2C530" data-bldgDepth="127" data-bldgFront="100" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="13%2C679" data-lotFront="100.67" data-lotDepth="135.83" data-retailArea="6%2C000" data-resArea="158%2C530" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="D6" data-primaryZoning="C4-6A" data-commercialOverlay="" data-far="10" data-buildable="136%2C790" data-airRights="-27%2C768" data-propertyNeighborhood="Upper%20West%20Side" data-latitude="40.7899654962971" data-longitude="-73.975798410505" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F255-West-88-Street-New-York-NY-10024%5C%2F1012360010-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F255-West-88-Street-New-York-NY-10024%5C%2F1012360010-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">255 West 88th Street</a> and 350 Central Park West

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.

Tags
Capital OneIng Real Estate Finance

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Meet the mysterious buyer of the Flatiron BuildingMeet the mysterious buyer of the Flatiron BuildingEx-Signature Bank execs lose small fortune in collapseEx-Signature Bank execs lose small fortune in collapseLerner vs. Lerner: Father, son battle over $35M Fulton Market dealLerner vs. Lerner: Father, son battle over $35M Fulton Market dealBasement unit bill has tenant protections, but not “good cause”Basement unit bill has tenant protections, but not “good cause”
New York

Weinreb secures $91M to refi two UWS rental buildings

Capital One provided the loans for 350 CPW and 255 West 88th Street

<a class="lavamap_link" style="text-decoration: none !important; color: inherit; box-shadow:none !important; pointer-events: none; cursor: default;" href="https://lavamap.com/property/255-West-88-Street-New-York-NY-10024/1012360010-0" target="_blank" data-address="255%20West%2088%20Street%2C%20New%20York" data-label="255%20West%2088th%20Street" data-url="https%3A%2F%2Flavamap.com%2Fproperty%2F255-West-88-Street-New-York-NY-10024%2F1012360010-0" data-bbl="1012360010" data-blockValue="01236" data-lotValue="0010" data-zipcode="10024" data-bldgArea="164%2C530" data-bldgDepth="127" data-bldgFront="100" data-landUse="Mixed%20resi%20%26%20comm%20buildings" data-lotArea="13%2C679" data-lotFront="100.67" data-lotDepth="135.83" data-retailArea="6%2C000" data-resArea="158%2C530" data-officeArea="0" data-garageArea="0" data-strgeArea="0" data-factryArea="0" data-otherArea="0" data-bldgClass="D6" data-primaryZoning="C4-6A" data-commercialOverlay="" data-far="10" data-buildable="136%2C790" data-airRights="-27%2C768" data-propertyNeighborhood="Upper%20West%20Side" data-latitude="40.7899654962971" data-longitude="-73.975798410505" data-moreList="%5B%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FviewOnMap.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F255-West-88-Street-New-York-NY-10024%5C%2F1012360010-0%22%2C%22urlLabel%22%3A%22View%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2Fownership.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Flavamap.com%5C%2Fproperty%5C%2F255-West-88-Street-New-York-NY-10024%5C%2F1012360010-1%22%2C%22urlLabel%22%3A%22View%20Ownership%20on%20LavaMap%22%7D%2C%7B%22icon%22%3A%22https%3A%5C%2F%5C%2Fcdn.lavamap.com%5C%2Fwp-lavamap-link%5C%2Fpublic%5C%2Fimg%5C%2FleaseComps.svg%22%2C%22url%22%3A%22https%3A%5C%2F%5C%2Ftherealdeal.com%5C%2Fnew-research%22%2C%22urlLabel%22%3A%22TRData%22%7D%5D" data-articleList="%5B%5D" rel="noopener">255 West 88th Street</a> and 350 Central Park West

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.

Tags
Capital OneIng Real Estate Finance