Ivy Realty refis $20.8M from Aetna Life for office property in Rosedale

Ivy Realty through the entity Ivy CIP Land Holdings, LLC as borrower signed a loan agreement with lender Aetna Life Insurance Company valued at $20.8 million for 8 parcels, including the tax class office building with two to six stories (O2) at 133-33 Brookville Boulevard, 242-08 133rd Avenue, 242-12 133rd Avenue, 242-18 133rd Avenue, and others in Rosedale. The deal closed on August 1, 2020 and was recorded on August 6, 2020.
The property contains a total of 260,000 square feet of built space. The property has 278,262 square feet of available development rights.
The average loan per buildable square foot is $64.
The last time the property sold was January 31, 2013, for $23,350,000.
Anthony P. DiTommaso, Jr. was the signatory for Ivy Realty.

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 $28,108.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link