American Continental Properties refinances 2006 loan at $38M from KBC Bank for multifamily in Lincoln Square

American Continental Properties through the entity ACP Amsterdam I, LLC as borrower signed a loan agreement with lender KBC Bank, N.V. valued at $38 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 236 residential units at 170 Amsterdam Avenue in Lincoln Square. The deal closed on March 11, 2020 and was recorded on March 13, 2020.
The property contains a total of 229,636 square feet of built space.
The average loan per unit is $161,017.
This is a modification of a loan originally from 2006.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 236 residential units on May 1, 2015.
Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $520,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link