Chestnut Holdings borrows $5.1M from New York Community for multifamily property in Tremont

Chestnut Holdings of New York through the entity 255 E LLC as borrower signed a loan agreement with lender New York Community Bank valued at $5.1 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 54 residential units at 255 East 176th Street in Tremont. The deal closed on August 6, 2020 and was recorded on September 4, 2020.
The property contains a total of 52,800 square feet of built space.
The average loan per unit is $95,185.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $20,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link