Liberty One Group borrows $8.8M from Tristate Capital for commercial property in Sunset Park

Liberty One Group through the entity 5113 Development LLC as borrower signed an acquisition loan agreement with lender Tristate Capital Bank valued at $8.8 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 5113 2nd Avenue in Sunset Park. The deal closed on August 14, 2020 and was recorded on August 31, 2020.
The property contains a total of 16,050 square feet of built space.
The average loan per buildable square foot is $548.
The financing includes $5.2 million in new debt. The last time the property sold was August 14, 2020, when Liberty One bought it for $7 million.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link