Carlyle Group borrows $18M from Santander Bank for development in Red Hook

Carlyle Group through the entity King Street Owner, L.L.C. as borrower signed a loan agreement with lender Santander Bank valued at $17.9 million for 2 parcels, including the tax class miscellaneous warehouse (E9) at 141 Conover Street in Red Hook. The deal closed on December 3, 2019 and was recorded on December 16, 2019.

The last time the property sold was January 24, 2019, for $12,875,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $100,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.There has been one new building permit application totaling 76,000 square feet. There have been 3 demolition projects filed over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link