510 Fairview LLC obtained financing of $7M from Popular Bank

510 Fairview LLC as borrower signed a loan agreement with lender Popular Bank valued at $6.6 million for 4 parcels, including the tax class four families (C3) and containing 16 residential units at 510 Fairview Avenue, 1913 Palmetto Street, 18-63 Himrod Street, 291 Onderdonk Avenue in Ridgewood. The deal closed on July 31, 2019 and was recorded on August 20, 2019.
The property contains a total of 14,689 square feet of built space. The property has 3,289 square feet of available development rights.
The average loan per unit is $409,375.
The last time the property sold was April 20, 2015, for $970,000.

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 $160,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link