Highpoint Property Group borrows $6M from Republic First Bank for redevelopment of property in East Village

Drew Popkin’s Highpoint Property Group through the entity 100 2nd Avenue Owner LLC as borrower signed a loan agreement with lender Republic First Bank valued at $6.2 million for 1 parcel, including the tax class primarily five to six family with store or office (S5) and containing 6 residential units at 100 2nd Avenue in East Village. The deal closed on February 26, 2020 and was recorded on March 12, 2020.
The property contains a total of 6,581 square feet of built space.
The average loan per buildable square foot is $433.
This loan package includes acquisition and rehab construction financing.

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