Chestnut Holdings refis $9.2M with New York Community for 119-unit rental in Tremont

Chestnut Holdings of New York through the entity 240 E LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.2 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 119 residential units at 240 East 175th Street in Tremont. The deal closed on August 6, 2020 and was recorded on September 3, 2020.
The property contains a total of 120,324 square feet of built space.
The average loan per unit is $77,563.
The last time the property sold was August 15, 2012, for $8,000,000.
Ben Rieder was the signatory for the borrower.

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