Alma Realty borrows $15M from New York Community Bank for multifamily property in Crown Heights

Alma Realty through the entity 565 Prospect Place Housing Development Fund Corp as borrower signed a loan agreement with lender New York Community Bank valued at $15 million for 1 parcel, including the tax class multifamily, converted (D5) and containing residential units at 565 Prospect Place in Crown Heights. The deal closed on March 5, 2020 and was recorded on March 11, 2020.
The property contains a total of 49,500 square feet of built space. The property has 73,827 square feet of available development rights.

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 $70,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link