Danny Wu of Focal Point borrows $19M from Madison Realty for new construction in Sunset Park

Danny Wu of Focal Point Design & Construction through the entity Sunrise Plaza LLC as borrower signed a construction loan agreement with lender Madison Realty Capital through its 617 62nd Street 1 LLC valued at $18.8 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 617 62nd Street in Sunset Park. The deal closed on March 2, 2020 and was recorded on March 19, 2020.

The last time the property sold was December 8, 2016, for $9,900,000.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $135,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link