Gene Jiyoon Park refis 38-unit Clinton rental with $21M from CTBC Bank

Gene Jiyoon Park through the entity 885-889 10Th Avenue, LLC as borrower signed a loan agreement with lender CTBC Bank valued at $21 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 38 residential units at 885 10th Avenue in Clinton. The deal closed on December 30, 2020 and was recorded on January 28, 2021.
The property contains a total of 37,000 square feet of built space.
The average loan per unit is $552,632.
The last time the property sold was May 10, 2016 for $47,500,000.
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 were 2 renovation/alteration projects (A2) applied for with a total estimated value of $235,000.

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