Daten Group obtained financing of $40M from CMTG Lender 47 LLC

Daten Group through the entity 575 4th Avenue, LLC as borrower signed a loan agreement with lender CMTG Lender 47 LLC valued at $40.0 million for 1 parcel, including the tax class miscellaneous garage (G9) and containing 70 residential units at 575 4 Avenue in Park Slope. The deal closed on August 02, 2019 and was recorded on August 08, 2019.
The property contains a total of 85,862 square feet of built space.
The average loan per unit is $571,429.
The last time the property sold was November 12, 2015, for $17,000,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $75,000.There has been one new building permit application totaling 85,862 square feet. Those plans include a total of 70 residential or hotel 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

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