Ignacio Castillo borrows $12M from New York Community Bank for multifamily property in University Heights

Ignacio Castillo through the entity Hampden Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $12.0 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 113 residential units at 2254 Cedar Avenue, 2269 Hampden Place in University Heights. The deal closed on May 22, 2020 and was recorded on June 10, 2020.
The property contains a total of 58,368 square feet of built space.
The average loan per unit is $106,195.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link