Comunilife borrows $11M from JPMorgan Chase Bank and New York City for property in Brooklyn

The social service nonprofit Comunilife through the entity Comunilife Woodhull Housing Development Fund Corp. as borrower signed loan agreements with lenders JPMorgan Chase Bank and New York City totaling $11.4 million for 1 parcel, including the tax class miscellaneous institutional (I9) and containing 89 residential units at 179 Throop Avenue in Brooklyn. The deal closed on May 7, 2020 and was recorded on May 14, 2020.
The property contains a total of 47,019 square feet of built space.
The average loan per unit is $87,343.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 89 residential units on December 20, 2018.
Over the past five years, there have been 11 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 11 renovation/alteration projects (A2) applied for with a total estimated value of $4,008,620.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link