Blue Sky Real Estate obtained financing of $52M from CGA Mortgage Capital

Blue Sky Real Estate through the entity Blue Sky 3060 Broadway LLC as borrower signed a loan agreement with lender CGA Mortgage Capital, LLC valued at $51.9 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 36 residential units at 3060 Broadway in Morningside Heights. The deal closed on June 28, 2019 and was recorded on July 24, 2019.
The property contains a total of 60,139 square feet of built space. The property has 12,079 square feet of available development rights.
The average loan per unit is $1,442,605.
The last time the property sold was February 10, 2016, for $35,250,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $316,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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