McInnis USA obtained financing of $10M from The Bank Of New York Mellon

McInnis USA as borrower signed a loan agreement with financing agent The Bank Of New York Mellon valued at $10.0 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 50 Oak Point Ave in Hunts Point. The deal closed on June 30, 2019 and was recorded on August 08, 2019.
The property contains a total of 1,306,121 square feet of built space. The property has 1,226,760 square feet of available development rights.
The average loan per buildable square foot is $8.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on June 25, 2018.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $200,000.There has been one new building permit application totaling 75,584 square feet.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article