GFP Real Estate obtained financing of $13M from BankUnited, N.A.

GFP Real Estate through the entity 285 North 6Th LLC as borrower signed a loan agreement with lender BankUnited, N.A. valued at $13.4 million for 1 parcel, including the tax class semi-fireproof office building (O5) at 285 North 6 Street in Williamsburg. The deal closed on August 01, 2019 and was recorded on August 19, 2019.
The property contains a total of 27,000 square feet of built space. The property has 500 square feet of available development rights.
The average loan per buildable square foot is $495.
The last time the property sold was September 17, 2015, for $1,733,333.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $40,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $1,222,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link