Finkelstein, Timberger East Real Estate borrows $5M from M&T Bank for property in Soundview

Finkelstein, Timberger East Real Estate through the entity 2104 Ashley’s Cross LLC as borrower signed a loan agreement with lender M&T Bank valued at $5.1 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 39 residential units at 2104 Cross Bronx Expwy in Soundview. The deal closed on August 26, 2019 and was recorded on September 26, 2019.
The property contains a total of 34,815 square feet of built space.
The average loan per unit is $131,261.
The last time the property sold was February 27, 2014, for $4,700,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,938,560.There has been one new building permit application totaling 2,509 square feet. Those plans include a total of 2 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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