Holliswood co-op borrows $21M from National Consumer Cooperative Bank

Holliswood Owners Corp. cooperative as borrower signed a loan agreement with lender National Consumer Cooperative Bank valued at $21 million for 2 parcels, including the tax class cooperative (C6) and containing 264 residential units at 196-01 Pompeii Avenue and 87-09 Pompeii Avenue in Holliswood. The deal closed on December 29, 2020 and was recorded on February 26, 2021.
The property contains a total of 120,184 square feet of built space.
The average loan per unit is $79,545.

Over the past five years, there have been 50 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 50 renovation/alteration projects (A2) applied for with a total estimated value of $2,790,000.

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