Directed Capital buys $7.1M loan from BankUnited secured by 14-unit rental in Hudson Yards

Florida-based Directed Capital bought a $7.1 million loan from BankUnited secured by a 14-unit rental in Hudson Yards owned by Carolyn Rusin.

Directed Capital through its DCR Mortgage 10 Sub 3, LLC acquired the loan with an original face value of $7.1 million from BankUnited secured by one parcel, including the tax class multifamily, over six families without stores (C1) and containing 14 residential units at 412 West 36th Street in Hudson Yards. The transaction closed on September 30, 2020 and was recorded on October 9, 2020.
The property contains a total of 10,500 square feet of built space. The property has 14,868 square feet of available development rights.

The last time the property sold was October 21, 2015, for $11,500,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $67,500. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $392,390.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link