Community Access Housing Development Fund Company borrows $7M from Mercy Loan Fund for property in Tremont

Community Access Housing Development Fund Company as borrower signed a loan agreement with lender Mercy Loan Fund valued at $6.7 million for 11 parcels, including the tax class land zoned residential, except not Manhattan below 110th Street (V0) at 330 East 176th Street, 332 East 176th Street, 334 East 176th Street, 338 East 176th Street, 340 East 176th Street, and others in Tremont. The deal closed on August 27, 2019 and was recorded on September 25, 2019.
The property has 75,326 square feet of available development rights.
The average loan per buildable square foot is $88.

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

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