Chou family borrows $7M from Investors Bank to refi mixed-use property in Lenox Hill

Regina Chou, Rita Chou and Rachel Chou Young through the entity C3D E78 LLC as borrower signed a loan agreement with lender Investors Bank valued at $7.3 million for 4 parcels, including the tax class retail building with apartments above (K4) and containing 13 residential units at 1487 1st Avenue, 1489 1st Avenue, 1491 1st Avenue, 1493 1st Avenue in Lenox Hill. The deal closed on March 26, 2020 and was recorded on April 15, 2020.
The property has 100,507 square feet of available development rights.
The average loan per unit is $561,538.

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