260 Herkimer Street Limited Partnership obtained financing of $8M from New York City Housing Development

260 Herkimer Street Limited Partnership as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $8.5 million for 2 parcels, including the tax class multifamily, miscellaneous (D9) and containing 277 residential units at 254 Herkimer Street, 234 Herkimer Street in Bedford-Stuyvesant. The deal closed on June 27, 2019 and was recorded on July 30, 2019.
The property contains a total of 396,141 square feet of built space. The property has 38,178 square feet of available development rights.
The average loan per unit is $30,542.
The last time the property sold was June 29, 2007, for $3,513,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $869,275.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. not available

Share this article