517 W 161 Realty LLC obtained financing of $7M from Arbor Agency Lending

517 W 161 Realty LLC as borrower signed a loan agreement with lender Arbor Agency Lending, LLC valued at $7.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 41 residential units at 517 West 161 Street in Washington Heights. The deal closed on June 28, 2019 and was recorded on July 30, 2019.
The property contains a total of 21,426 square feet of built space.
The average loan per unit is $169,634.
The last time the property sold was April 20, 2016, for $8,350,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $96,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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