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1800 Park Avenue

Clipper Equity Secures $54M Loan For East Harlem Multifamily Acquisition From Durst Organization
FINANCEDMultiFamily

Clipper Equity Secures $54M Loan For East Harlem Multifamily Acquisition From Durst Organization

1800 Park Avenue

$54,000,000

Building Size

Asset Type

MultiFamily

Closing

Dec 5, 2025

AI

The asset involved in the transaction is a multifamily property located at 1800 Park Avenue in East Harlem. Clipper Equity purchased the site with a total acquisition loan amount of $54,000,000, which consists of a $44,000,000 senior loan from Valley National Bank and $10,000,000 mezzanine debt from Leumi Partners.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $54,000,000
  • Address: 1800 Park Avenue
  • Market: East Harlem
  • Lender: Chris Gregg & Jeff Puchin - Valley National Bank; Shuki Zeitak - Leumi Partners
  • Landlord: Clipper Equity
  • Brokers: Leah Paskus & Pinchas Vogel - Landstone Capital Group

This transaction involved Chris Gregg and Jeff Puchin representing Valley National Bank, and Shuki Zeitak representing Leumi Partners in providing the financing. The acquisition of the property from the Durst Organization was facilitated by brokers Leah Paskus and Pinchas Vogel from Landstone Capital Group.

Players

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
Valley National Bank
Valley National BankLender
Clipper Equity
Clipper EquityLandlord

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.29%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93