Conway Capital refis with $15.5M from Argentic for property in Brooklyn Heights

Conway Capital through the entity 162 Montague Cc LLC as borrower signed a loan agreement with lender Argentic Real Estate Finance LLC valued at $15.5 million for 3 parcels, including the tax class retail building with apartments above (K4) and containing 7 residential units at 155 Montague Street, 6 Stone Street and 162 Montague Street in Brooklyn Heights. The deal closed on October 23, 2020 and was recorded on November 9, 2020.
The properties have 127,238 square feet of built space and available development rights.
The average loan per buildable square foot is $122.
The financing includes $3.4 million in a gap loan.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $218,775.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link