Chestnut Holdings of New York obtained financing of $6M from Capital One

Chestnut Holdings of New York’s 1575 GC LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $5.9 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 54 residential units at 1575 Grand Concourse in Tremont. The deal closed on August 13, 2019 and was recorded on August 27, 2019.
The property contains a total of 50,763 square feet of built space. The property has 31,647 square feet of available development rights.
The average loan per unit is $109,259.
The last time the property sold was August 27, 2013, for $6,100,000.

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