Camber Property Group obtained financing of $57M from NEW YORK COMMUNITY BANK

Camber Property Group through HIGHBRIDGE PRESERVATION LLC as borrower signed a loan agreement with lender NEW YORK COMMUNITY BANK valued at $57.2 million for 2 parcels, including the tax class land not zoned residential or Manhattan below 110th Street (V1) and containing 400 residential units at 1131 Ogden Avenue, University Avenue in Highbridge. The deal closed on June 25, 2019 and was recorded on July 12, 2019.
The property contains a total of 475,438 square feet of built space.
The average loan per unit is $142,969.
The last time the property sold was June 29, 2006, for $19,498,700.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,019,495.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article