Douglas Oliver obtained financing of $20M from BANK OF AMERICA

Douglas Oliver through the entity 1026 REAL ESTATE INVESTORS LLC as borrower signed a loan agreement with lender BANK OF AMERICA, N.A. valued at $20.0 million for 1 parcel, including the tax class fireproof warehouse (E1) at 259 10 Avenue in Chelsea. The deal closed on June 25, 2019 and was recorded on July 10, 2019.
The property contains a total of 214,780 square feet of built space.
The average loan per buildable square foot is $93.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 31, 2012.
Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $3,933,017.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
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