Atlantic Group signs $28.8M refi with Sterling National for nursing home in Coney Island
The Atlantic Group through the entity Atlantic Geriatric Ventures as borrower signed a refi loan with lender Sterling National Bank valued at $28.8 million for the Sea Crest Nursing and Rehabilitation (I6) building at 3035 West 24th Street in Coney Island, Brooklyn.
The deal closed on April 19, 2021 and was recorded on May 19, 2021.
The property has 106,000 square feet of built space and 0 square feet of additional air rights for a total buildable of 95,367 square feet according to PincusCo analysis of city data. The loan price per built square foot is $271 per the PincusCo analysis.
The signatory for Atlantic Group was Howard Presant.
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 7 renovation/alteration projects (A2) applied for with a total estimated value of $673,300.
Direct link to Acris document. link