Maimonides Medical Center borrows $18M from Bank of America for multifamily property in Kensington

Maimonides Medical Center as borrower signed a loan agreement with lender Bank of America valued at $18.0 million for 4 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 230 residential units at 926 49th Street, 968 47th Street, 974 47th Street, 984 49th Street in Kensington. The deal closed on May 31, 2019 and was recorded on November 25, 2019.
The average loan per unit is $78,261.

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 were 2 renovation/alteration projects (A2) applied for with a total estimated value of $700,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link