Laconia Nursing Home ups debt to $28M from Metropolitan Commercial in Bronx

The Laconia Nursing Home through the entity LNH Realty LLC as borrower signed a loan agreement with lender Metropolitan Commercial Bank valued at $28.0 million for 1 parcel, including the tax class nursing home (I6) at 1050 East 230th Street in the Bronx. The deal closed on February 19, 2021 and was recorded on March 8, 2021.
The property contains a total of 74,400 square feet of built space.
The average loan per buildable square foot is $376.
The signatory for the nursing home was Barry Braunstein. The last time the property sold was March 6, 2018 for $14,114,425.
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 $338,200.

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