Brodsky ups debt by $23M to $35M from Wells Fargo at 302-unit rental in Lincoln Square

Brodsky Organization through the entity South Pierre Associates, LLC as borrower signed a loan agreement with lender Wells Fargo Bank valued at $35 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 302 residential units at 160 West 71st Street in Lincoln Square. The deal closed on August 31, 2020 and was recorded on September 10, 2020.
The property contains a total of 235,400 square feet of built space.
The average loan per unit is $115,894.
The financing includes $23 million in new debt.

Over the past five years, there have been 15 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 15 renovation/alteration projects (A2) applied for with a total estimated value of $2,419,329.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link