157-159 Wythe Avenue Owner LLC obtained financing of $6M from Marathon Real Estate Debt Fund

157-159 Wythe Avenue Owner LLC as borrower signed a loan agreement with lender Marathon Real Estate Debt Fund, Lp valued at $5.7 million for 1 parcel, including the tax class multifamily, five to six families (C2) and containing 6 residential units at 159 Wythe Avenue in Williamsburg. The deal closed on July 24, 2019 and was recorded on July 31, 2019.
The property contains a total of 8,944 square feet of built space. The property has 894 square feet of available development rights.
The average loan per buildable square foot is $639.
The last time the property sold was December 07, 2015, for $8,000,000.

Over the past five years, there have been 9 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 $1,144,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $726,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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