Gontar Management borrows $7.9M from First Republic for 61-unit rental in Parkchester

Michael Gontar’s Gontar Management through the entity GM 1400 Benson LLC as borrower signed a loan agreement with lender First Republic Bank valued at $7.9 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 61 residential units at 1400 Benson Street in Parkchester. The deal closed on December 21, 2020 and was recorded on December 31, 2020.
The property contains a total of 55,272 square feet of built space.
The average loan per unit is $129,508.
The last time the property sold was December 31, 2012 for $3,655,000.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $862,281.

Direct link to Acris document. link