Atlantic Development borrows $8.9M from Signature Bank for 90-unit property in Tremont

Peter Fine’s Atlantic Development Group through the entity Marmion Associates, L.P. as borrower signed a loan agreement with lender Signature Bank valued at $8.9 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 90 residential units at 825 East 179th Street in Tremont. The deal closed on July 15, 2020 and was recorded on September 18, 2020.
The property contains a total of 82,309 square feet of built space.
The average loan per unit is $98,889.

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