City Skyline borrows $7.7M from New York Community for multifamily property in Kingsbridge

City Skyline Realty through the entity 3111 Heath LLC as borrower signed an acquisition loan agreement with lender New York Community Bank valued at $7.7 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 65 residential units at 3111 Heath Avenue in Kingsbridge. The deal closed on July 2, 2020 and was recorded on July 30, 2020.
The property contains a total of 60,295 square feet of built space.
The average loan per unit is $118,269.
The prior debt of $7.7 million was provided by Dime Community Bank. The last time the property sold was April 30, 2014, for $6,700,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $598,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link