Jonathan Rose Companies, Settlement Housing, borrow $29M from NYC Housing Development Corp. for multifamily property in Astoria

Jonathan Rose Companies and Settlement Housing Fund through the entity Rahf Iv Goodwill Terrace, LLC as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $28.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 208 residential units at 4-21 27th Avenue in Astoria. The deal closed on December 23, 2019 and was recorded on December 30, 2019.
The property contains a total of 136,000 square feet of built space.
The average loan per unit is $137,019.
Settlement Housing acquired an interest in the rental building valued at $35 million on the same day as this loan was made.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $3,636,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link