Gatsby Enterprises borrows $18M from Capital One for rental property in East Village

Gatsby Enterprises through the entity Rae Realty LLC as borrower signed a loan agreement with lender Capital One, National Association valued at $18.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 48 residential units at 176 East 3rd Street in East Village. The deal closed on October 25, 2019 and was recorded on October 30, 2019.
The property contains a total of 43,520 square feet of built space.
The average loan per unit is $375,000.
The last time the property sold was November 18, 2014, for $31,500,000.

Over the past five years, there have been 3 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 $197,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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