Brady Court cooperative borrows $16M from National Cooperative Bank in Morris Park

Brady Court cooperative through the entity 754-768 Brady Owners Corp. as borrower signed a loan agreement with lender National Cooperative Bank, N.A. valued at $16 million for 4 parcels, including the tax class cooperative (D4) and containing 374 residential units at Brady Court cooperative at 762 Brady Avenue, 764 Brady Avenue, 754 Brady Avenue, 758 Brady Avenue in Morris Park. The deal closed on March 18, 2020 and was recorded on March 23, 2020.
The property has 372,864 square feet of available development rights.
The average loan per unit is $40,107.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $151,200.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link