Jung Yong Park signs $11.5M refi loan with Flushing Bank for rental in Morrisania

Jung Yong Park through the entity Southern 634 LLC as borrower signed a refi loan with lender Flushing Bank valued at $11.5 million for the 55-unit rental (D7) at 1054 Southern Boulevard in Morrisania, Bronx.
The deal closed on April 29, 2021 and was recorded on May 24, 2021.
The property has 63,608 square feet of built space and 5,636 square feet of additional air rights for a total buildable of 69,250 square feet according to PincusCo analysis of city data. The loan price per built square foot is $180 and the price per buildable square foot is $165 per the PincusCo analysis.
The owner bought the property on 21-May-15, for $15.2 million.
The signatory for Jung Yong Park was Jung Yong Park.
Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $484,880.
The owners according to the Department of Housing Preservation and Development includes Matthew Park, head officer and Mathew Park, site manager. The business entities are Midas Property Management Corp and Southern 634 Llc.

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