Canbeth Realty Corp. obtained financing of $5M from Preferred Bank

Canbeth Realty Corp. as borrower signed a loan agreement with lender Preferred Bank valued at $5.0 million for 2 parcels, including the tax class primarily one to six families with stores or offices (S9) and containing 6 residential units at 160 Canal Street, 158 Canal Street in Chinatown. The deal closed on August 27, 2019 and was recorded on September 09, 2019.
The property contains a total of 5,379 square feet of built space. The property has 1,634 square feet of available development rights.
The average loan per buildable square foot is $510.

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