Five Points refis $20M with Maxim Credit for property in Nomad

Five Points Development through the entity Five Points 262 Project LLC as borrower signed a loan agreement with lender Maxim Credit Group, LLC valued at $20 million for 3 parcels, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 262 5th Avenue, 264 5th Avenue Nomad. The deal closed on November 20, 2020 and was recorded on December 8, 2020.

Goldman Sachs assigned the remaining debt to Maxim, which provided a $4 million gap loan.  The last time the property sold was February 11, 2015, for $17,350,000. Boris Kuzinez was the signatory for Five Points.

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 172,291 square feet. Those plans include a total of 41 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 4 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link