Klosed Properties borrows $5.4M from New York Community Bank for multifamily property in Tremont

Klosed Properties through the entity 2503 Hughes Bh LLC as borrower signed a loan agreement with lender New York Community Bank valued at $5.4 million for 1 parcel, including the tax class multifamily, over six families without stores (C1) and containing 21 residential units at 2503 Hughes Avenue in Tremont. The deal closed on August 19, 2020 and was recorded on August 26, 2020.
The property contains a total of 14,400 square feet of built space.
The average loan per unit is $257,143.
The financing includes $2.7 million in new debt. The last time the property sold was June 6, 2019, for $3,600,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $140,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link