Alma Realty borrows $9M from New York Community Bank for multifamily property in Inwood

Alma Realty through the entity Arden-Vermilyea Properties, LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.1 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 93 residential units at 149 Vermilyea Avenue, 157 Vermilyea Avenue, 15 Arden Street, 17 Arden Street in Inwood. The deal closed on January 17, 2020 and was recorded on February 12, 2020.
The property has 80,420 square feet of available development rights.
The average loan per unit is $98,027.
The last time the property sold was November 14, 2014, for $9,100,000.

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 $36,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link