Comunilife borrows $60M from New York State Housing Finance Agency and New York City, for new construction in Morrisania

Comunilife through the entity Communilife Thid Avenue, L.P. as borrower signed a loan agreement with lender New York State Housing Finance Agency, New York City through the entity New York State Housing Finance Agency valued at $59.8 million for 1 parcel, including the tax class one-story store building (K1) at 3401 3rd Avenue in Morrisania. The deal closed on December 18, 2019 and was recorded on January 29, 2020.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $590,000.There has been one new building permit application totaling 80,892 square feet. Those plans include a total of 148 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link