Civic Builders borrows $24M from M&T Bank, Local Initiatives Support for property in Concourse Village

Civic Builders through the entity Civic Concourse Village Corporation as borrower signed loan agreements with lenders M&T Bank and Local Initiatives Support Corporation valued at $23.9 million for 757 Concourse Village West in Concourse Village in the Bronx.
Civic Builders is constructing a new school at the location, and in July 2018 as the sublandlord signed a 40-year lease with Classical Charter Schools as subtenant.
The loan closed on September 10, 2019 and was recorded on September 20, 2019.
The property contains a total of square feet of built space and is composed of 1 parcel, including the tax class licensed parking lot (G6).
The last time the property sold was November 23, 2015, for $4,000,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 50,602 square feet.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.

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