631 REALTY ASSOCIATES LLC obtained financing of $6M from NEW YORK COMMUNITY BANK

631 REALTY ASSOCIATES LLC as borrower signed a loan agreement with lender NEW YORK COMMUNITY BANK valued at $6.3 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 49 residential units at 631 East 220 Street in Williamsbridge. The deal closed on July 03, 2019 and was recorded on July 18, 2019.
The property contains a total of 42,170 square feet of built space.
The average loan per unit is $128,469.
The last time the property sold was August 03, 2017, for $7,200,000.

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 $46,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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