85 Delancey Corp. obtained financing of $6M from Yellowstone Commons, LLC

85 Delancey Corp. as borrower signed a loan agreement with lender Yellowstone Commons, LLC valued at $6.0 million for 2 parcels, including the tax class semi-fireproof office building (O5) at 85 Delancey Street, 95 Delancey Street in Lower East Side. The deal closed on August 15, 2019 and was recorded on August 20, 2019.
The property contains a total of 67,122 square feet of built space. The property has 24,649 square feet of available development rights.
The average loan per buildable square foot is $89.

Over the past five years, there has been one NYC Department of Buildings permit application 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 $129,455.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link