DREAMYARD MAPES HOUSING DEVELOPMENT FUND CORP obtained financing of $16M from JP MORGAN CHASE BANK

DREAMYARD MAPES HOUSING DEVELOPMENT FUND CORP as borrower signed a loan agreement with lender JP MORGAN CHASE BANK, N.A. valued at $16.3 million for 1 parcel, including the tax class three-family (C0) at 2126 Mapes Avenue in Tremont. The deal closed on June 26, 2019 and was recorded on July 12, 2019.
The property contains a total of 24,558 square feet of built space. The property has 23,532 square feet of available development rights.
The average loan per buildable square foot is $663.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 24,512 square feet. Those plans include a total of 30 residential or hotel units. There have been 5 demolition projects filed over the past five years. The demolition included 5 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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