Auto dealer property owner borrows $10.5M from Bank of America for car showroom in Bay Ridge

The entity Life Quality 63-64 LLC as borrower signed a loan agreement with lender Bank Of America valued at $10.5 million for 1 parcel, including the tax class garage with showroom (G8) at 6223 2nd Avenue in Bay Ridge. The deal closed on August 31, 2020 and was recorded on September 23, 2020.
The property contains a total of 77,000 square feet of built space.
The average loan per buildable square foot is $136.
The financing includes a $6.1 million gap mortgage.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 1, 2012.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $1,626,166.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Correction: An earlier version of this post reported an individual was the owner but in fact the company is the owner.