1694-1698 Selwyn Ave LLC obtained financing of $8M from Peapack-Gladstone Bank

1694-1698 Selwyn Ave LLC as borrower signed a loan agreement with lender Peapack-Gladstone Bank valued at $8.0 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 61 residential units at 1694 Selwyn Avenue in Tremont. The deal closed on July 22, 2019 and was recorded on July 30, 2019.
The property contains a total of 85,838 square feet of built space. The property has 34,628 square feet of available development rights.
The average loan per unit is $131,148.
The last time the property sold was October 19, 2015, for $8,750,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $85,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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