1270 Pacific HDFC obtained financing of $11M from Wells Fargo

1270 Pacific Housing Development Fund Corporation as borrower signed a loan agreement with lender Wells Fargo Trust Company National Association valued at $10.7 million for 1 parcel, including the tax class multifamily, converted dwelling or rooming house (C5) and containing 39 residential units at 1270 Pacific Street in Crown Heights. The deal closed on August 28, 2019 and was recorded on September 06, 2019.
The property contains a total of 12,900 square feet of built space.
The average loan per unit is $274,103.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 39 residential (or hotel) units on March 22, 2018.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $15,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $23,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link