FREO Group borrows $17M from Voya Investment for the purchase of a multifamily property in Clinton Hill

FREO Group through the entity 79 Clifton Place Owner LLC as borrower signed an acquisition loan agreement with lender Voya Investment Management valued at $17.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 40 residential units at 83 Clifton Place in Clinton Hill. The deal closed on January 7, 2020 and was recorded on January 22, 2020.
The property contains a total of 57,937 square feet of built space.
The average loan per unit is $435,000.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $806,140.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link