Impacct Cb 2018 Housing Development Fund Company, obtained financing of $5M from The City Of New York

Impacct Cb 2018 Housing Development Fund Company, as borrower signed a loan agreement with lender The City Of New York valued at $5.4 million for 7 parcels, including the tax class multifamily, five to six families (C2) and containing 55 residential units at 249 Tompkins Avenue, 235 Tompkins Avenue, 593 Gates Avenue, 234 Spencer Street, 1055 Bedford Avenue, and others in Bedford-Stuyvesant. The deal closed on June 27, 2019 and was recorded on July 22, 2019.
The property contains a total of 66,706 square feet of built space. The property has 17,974 square feet of available development rights.
The average loan per unit is $97,580.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $124,325.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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