9201 Shore Road cooperative in Fort Hamilton ups debt to $14M with NCB loan

The 9201 Shore Road cooperative through the entity 9201 Shore Tenants Corp. as borrower signed a loan agreement with lender National Consumer Cooperative Bank valued at $14.2 million for 1 parcel, including the tax class cooperative (D4) and containing 254 residential units at 9201 Shore Road in Fort Hamilton. The deal closed on June 30, 2020 and was recorded on July 9, 2020.
The property contains a total of 261,000 square feet of built space.
The average loan per unit is $55,906.
The financing replaced a $10 million loan that RBS Commercial Funding originated and packaged into securities for bondholders.

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. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $636,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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