Kim Tasher gets $21M take out loan for new 90-unit project in Tremont

The developer Kim Tasher’s entity 246 Echo Developments, LLC as borrower obtained a loan agreement with lender Metropolitan Commercial Bank valued at $21 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 90 residential units at 246 Echo Place in Tremont. The deal closed on October 21, 2020 and was recorded on October 27, 2020.
The building was issued its initial temporary certificate of occupancy on October 19, 2020.
The average loan per unit is $233,333.
The developer is Kim Tasher of SKF Development, but the signatory for the loan was the attorney Robert Teitelbaum. The borrower obtained a $9.25 million gap loan and paid off an $11.25 million construction loan from Popular Bank.

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 has been one new building permit application totaling 51,233 square feet. Those plans include a total of 90 residential units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link