BLDG Management obtained financing of $6M from M&T Bank

BLDG Management’s Theresa Annex, LLC as borrower signed a loan agreement with lender M&T Bank valued at $5.6 million for 1 parcel, including the tax class two-story or store and office (K2) at 208 West 125 Street in Central Harlem. The deal closed on July 30, 2019 and was recorded on August 07, 2019.
The property contains a total of 135,844 square feet of built space. The property has 68,164 square feet of available development rights.
The average loan per buildable square foot is $41.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $443,975.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link