589 11Th Mgt Corp. obtained financing of $5M from Usc 589 11Th LLC

589 11Th Mgt Corp. as borrower signed a loan agreement with lender Usc 589 11Th LLC valued at $5.3 million for 1 parcel, including the tax class one-story store building (K1) at 589 11 Avenue in Clinton. The deal closed on July 30, 2019 and was recorded on August 27, 2019.
The property contains a total of 3,700 square feet of built space. The property has 8,860 square feet of available development rights.
The average loan per buildable square foot is $422.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $3,000,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $163,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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