Dunn Development obtained financing of $24M from JPMorgan Chase Bank

Dunn Development through the entity Austin 147 LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank, N.A. valued at $24.1 million for 1 parcel, including the tax class single-family, miscellaneous (old buildings, attached & semi-detached frame houses, etc.) (A9) at 880 East 147 Street in Mott Haven. The deal closed on July 30, 2019 and was recorded on August 09, 2019.
The property contains a total of 26,523 square feet of built space. The property has 24,963 square feet of available development rights.
The average loan per buildable square foot is $113.
The last time the property sold was October 03, 2018, for $606,000.

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 57,569 square feet. Those plans include a total of 80 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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