Jeffmar Management borrows $15M from JPMorgan Chase Bank for multifamily property in Soundview

Carmine Tabacco of Jeffmar Management as signatory as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $14.5 million for 2 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 134 residential units at 1020 Boynton Avenue, 1030 Boynton Avenue in Soundview. The deal closed on April 27, 2020 and was recorded on April 30, 2020.
The property contains a total of 66,456 square feet of built space.
The average loan per unit is $108,209.

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 has been one new building permit application totaling square feet. Those plans include a total of 743 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link