Icer Properties obtained financing of $17M from CBRE Capital Markets

Icer Properties through the entity Icer Of Woodycrest Ave LLC as borrower signed a loan agreement with lender CBRE Capital Markets, Inc. valued at $16.5 million for 2 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 112 residential units at 950 Woodycrest Avenue, 957 Woodycrest Avenue in Highbridge. The deal closed on July 15, 2019 and was recorded on August 14, 2019.
The property contains a total of 128,907 square feet of built space.
The average loan per unit is $147,571.
The last time the property sold was July 02, 2013, for $5,300,000.

Over the past five years, there have been 3 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 $163,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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