Lrm Properties LLC obtained financing of $7M from PNC Bank

LRM Properties LLC as borrower signed a loan agreement with lender PNC Bank, National Association valued at $6.5 million for 1 parcel, including the tax class primarily one family with store or office (S1) at 111 East 19 Street in Gramercy. The deal closed on July 22, 2019 and was recorded on August 01, 2019.
The property contains a total of 4,995 square feet of built space. The property has 1,475 square feet of available development rights.
The average loan per buildable square foot is $1,301.
The last time the property sold was August 08, 2013, for $5,750,000.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $760,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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