Helm Equities Nostrand LLC obtained financing of $5M from Morgan Stanley Bank

Helm Equities Nostrand LLC as borrower signed a loan agreement with lender Morgan Stanley Bank, N.A. valued at $5.1 million for 1 parcel, including the tax class retail building with apartments above (K4) and containing 2 residential units at 834 Nostrand Avenue in Crown Heights. The deal closed on August 23, 2019 and was recorded on September 04, 2019.
The property contains a total of 12,296 square feet of built space. The property has 5,595 square feet of available development rights.
The average loan per buildable square foot is $285.
The last time the property sold was September 24, 2008, for $2,400,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 2 residential (or hotel) units on August 10, 2012.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $758,100.There has been one new building permit application totaling 33,505 square feet. Those plans include a total of 29 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link