1056 Boynton Avenue LLC obtained financing of $7M from Popular Bank

1056 Boynton Avenue LLC as borrower signed a loan agreement with lender Popular Bank valued at $6.6 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 75 residential units at 1056 Boynton Avenue in Soundview. The deal closed on July 09, 2019 and was recorded on July 19, 2019.
The property contains a total of 70,500 square feet of built space.
The average loan per unit is $87,333.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $400,000. Those filings sought to increase the number of residential units by 25 to 99 There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $624,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link