Harrico LLC obtained financing of $8M from S3 Re Funding Iii LLC

Harrico LLC as borrower signed a loan agreement with lender S3 Re Funding Iii LLC valued at $8.0 million for 1 parcel, including the tax class one-story store building (K1) at 1850 Jerome Avenue in Tremont. The deal closed on July 09, 2019 and was recorded on August 01, 2019.
The property contains a total of 52,618 square feet of built space. The property has 52,618 square feet of available development rights.
The average loan per buildable square foot is $152.
The last time the property sold was September 27, 2005, for $2,550,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 151,429 square feet. Those plans include a total of 164 residential or hotel units. There have been 4 demolition projects filed over the past five years. The demolition included 4 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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