Gramercy House cooperative borrows $19M for property in Gramercy

The Gramercy House cooperative through the entity Gramercy House Owners Corp. as borrower signed a loan agreement with lender Bank Of New York Mellon valued at $19 million for 23 parcels, including the tax class commercial condominium unit (R5) and containing 339 residential units at 381 Second Avenue at 22nd Street in Gramercy. The deal closed on July 1, 2020 and was recorded on July 27, 2020.

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