691 St. Nicholas Jv LLC obtained financing of $15M from The Community Development Trust

691 St. Nicholas Jv LLC as borrower signed a loan agreement with lender The Community Development Trust, Lp valued at $14.5 million for 1 parcel, including the tax class miscellaneous garage (G9) at 691 St Nicholas Avenue in Hamilton Heights. The deal closed on July 26, 2019 and was recorded on August 07, 2019.
The property contains a total of 60,050 square feet of built space. The property has 7,204 square feet of available development rights.
The average loan per buildable square foot is $241.
The last time the property sold was July 11, 2017, for $3,006,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on July 16, 2019.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 43,089 square feet. There has been one demolition project filed for the parcels 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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