Atlantic Development borrows $22.5M from Valley National for property in Kingsbridge

Peter Fine’s Atlantic Development Group through the entity Orloff Avenue Associates, LLC as borrower signed a loan agreement with lender Valley National Bank valued at $22.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 101 residential units at 3880 Orloff Avenue in Kingsbridge. The deal closed on October 28, 2020 and was recorded on November 18, 2020.
The property contains a total of 121,796 square feet of built space.
The average loan per unit is $223,218.

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