Chestnut Holdings obtained financing of $7M from JPMorgan Chase Bank

Chestnut Holdings through the entity Penn 1 LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank, N.A valued at $7.1 million for 3 parcels, including the tax class multifamily, over six families without stores (C1) and containing 50 residential units at 479 Pennsylvania Avenue, 473 Pennsylvania Avenue, 453 Pennsylvania Avenue in East New York. The deal closed on August 27, 2019 and was recorded on September 05, 2019.
The property contains a total of 14,784 square feet of built space.
The average loan per unit is $142,600.
The last time the property sold was May 04, 2016, for $9,600,000.

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Direct link to the city’s interactive property map, ZOLA. link

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