1162 Sheridan LLC borrows $6M from Peapack Gladstone Bank for property in Longwood Melrose

1162 Sheridan LLC as borrower signed a loan agreement with lender Peapack Gladstone Bank valued at $5.6 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 43 residential units at 1162 Sheridan Avenue in Longwood Melrose. The deal closed on September 19, 2019 and was recorded on September 23, 2019.
The property contains a total of 44,000 square feet of built space.
The average loan per unit is $130,233.
The last time the property sold was December 11, 2015, for $5,600,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $80,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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