5702 Avenue N LLC obtained construction financing of $7M from Bank of America

5702 Avenue N LLC as borrower signed a construction loan agreement with lender Bank Of America valued at $6.8 million for 1 parcel, including the tax class professional-type office building (O7) at 5702 Avenue N in Mill Basin. The deal closed on August 09, 2019 and was recorded on August 30, 2019.
The property contains a total of 15,565 square feet of built space.
The average loan per buildable square foot is $434.
The last time the property sold was March 15, 2017, for $2,638,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications 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 $20,000.There has been one new building permit application totaling 9,952 square feet. There have been 2 demolition projects filed over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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