1750 Gc LLC obtained financing of $6M from New York Community Bank

1750 Gc LLC as borrower signed a loan agreement with lender New York Community Bank valued at $6.2 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 70 residential units at 1750 Grand Concourse in Tremont. The deal closed on August 15, 2019 and was recorded on August 22, 2019.
The property contains a total of 69,225 square feet of built space. The property has 15,651 square feet of available development rights.
The average loan per unit is $88,857.
The last time the property sold was May 03, 2010, for $5,775,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $48,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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