Domain Companies obtained financing of $24M from Centennial Bank

Domain Companies through the entity 414 Gerard LLC as borrower signed a loan agreement with lender Centennial Bank valued at $24.2 million for 5 parcels, including the tax class fireproof warehouse (E1) at 121 East 144 Street, 404 Maj Wm Deegan Blvd, 440 Maj Wm Deegan Blvd, 445 Gerard Avenue, 417 Gerard Avenue in Mott Haven. The deal closed on August 08, 2019 and was recorded on August 14, 2019.
The property contains a total of 273,497 square feet of built space. The property has 218,474 square feet of available development rights.
The average loan per buildable square foot is $89.
The last time the property sold was April 18, 2019, for $11,550,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 92,220 square feet. Those plans include a total of 134 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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