2590 PARK AVENUE LLC obtained financing of $6M from IBERIABANK

2590 PARK AVENUE LLC as borrower signed a loan agreement with lender IBERIABANK, A LOUISIANA STATE BANK, SUCCESSOR BY valued at $5.7 million for 7 parcels, including the tax class semi-fireproof manufacturing building (F4) and containing 2 residential units at 2590 Park Avenue, 414 Concord Avenue, Concord Avenue, Concord Avenue, 38 Renwick Street, and others in Mott Haven. The deal closed on July 08, 2019 and was recorded on July 15, 2019.
The property contains a total of 139,801 square feet of built space. The property has 69,691 square feet of available development rights.
The average loan per buildable square foot is $41.
The last time the property sold was December 13, 2016, for $11,000,000.

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Direct link to the city’s interactive property map, ZOLA. link

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