Geel Webster Avenue HDFC obtained financing of $6M from New York City Acquisition Fund LLC

Geel Webster Avenue Housing Development Fund Corpo as borrower signed a loan agreement with lender New York City Acquisition Fund LLC valued at $6.3 million for 3 parcels, including the tax class licensed parking lot (G6) and containing 4 residential units at 3095 Webster Avenue, 3101 Webster Avenue, 3099 Webster Avenue in Riverdale. The deal closed on August 13, 2019 and was recorded on August 29, 2019.
The property contains a total of square feet of built space. The property has 46,005 square feet of available development rights.
The average loan per buildable square foot is $127.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link