Altmark Group borrows $10M from Dime Community Bank for property in Mott Haven

The Altmark Group through the entity 728 East Holdings LLC as borrower signed a loan agreement with lender Dime Community Bank valued at $10 million for 1 parcel, including the tax class light manufacturing building (F5) at 728 East 136th Street in Mott Haven. The deal closed on May 2, 2020 and was recorded on June 3, 2020.
The property contains a total of 128,000 square feet of built space.
The average loan per buildable square foot is $78.
Altmark obtained $5 million in new financing. Adi Altmark was the signatory for the borrower. The last time the property sold was December 17, 2014, for $2,667,902.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $216,731.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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