GMZ Estates Inc. obtained financing of $5M from Santander Bank

GMZ Estates Inc. as borrower signed a loan agreement with lender Santander Bank, N.A. valued at $5.0 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 34 residential units at 43-49 42 Street, 43-45 42 Street in Sunnyside. The deal closed on June 28, 2019 and was recorded on August 19, 2019.
The property contains a total of 36,012 square feet of built space. The property has 6,640 square feet of available development rights.
The average loan per unit is $147,059.

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 $72,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link