Atlantic Development signs $21.7M refi with NYC Housing Development Corporation for bulk condos in Longwood

Atlantic Development Group through the entity Hoe Avenue Associates, L.P. as borrower signed a refi loan with lender New York City Housing Development Corporation valued at $21.7 million for 136-unit bulk condo (MC) package at 941 Hoe Avenue in Longwood, Bronx.
The deal closed on October 8, 2021 and was recorded on November 29, 2021.
The property has 131,212 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $165 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)

The signatory for Atlantic Development Group was Peter Fine. The signatory for New York City Housing Development Corporation was Ruth Moreira.

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