Dtbg 56 Frost Street Owner LLC obtained financing of $8M from Ows Bca Funding, LLC

Dtbg 56 Frost Street Owner LLC as borrower signed a loan agreement with lender Ows Bca Funding, LLC valued at $7.9 million for 2 parcels, including the tax class semi-fireproof manufacturing building (F4) and containing 14 residential units at 56 Frost Street, 390 5 Avenue in East Williamsburg. The deal closed on July 02, 2019 and was recorded on July 22, 2019.
The property contains a total of 13,239 square feet of built space. The property has 1,071 square feet of available development rights.
The average loan per unit is $562,818.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 8 residential (or hotel) units on October 23, 2017.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. 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

Share this article