Commodore Realty Associates L.P. obtained financing of $5M from Apple Bank For Savings

Commodore Realty Associates L.P. as borrower signed a loan agreement with lender Apple Bank For Savings valued at $5.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 96 residential units at 135-09 82 Drive in Briarwood. The deal closed on August 12, 2019 and was recorded on August 20, 2019.
The property contains a total of 90,006 square feet of built space. The property has 16,482 square feet of available development rights.
The average loan per unit is $52,083.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $15,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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