Meny Lowy’s Pacific Management borrows $7M from Cross River Bank for property in Bronx

Meny Lowy’s Pacific Management through the entity 657 Crotona Holdings LLC as borrower signed a loan agreement with lender Cross River Bank valued at $6.6 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 29 residential units at 657 Crotona Park North in Bronx. The deal closed on September 26, 2019 and was recorded on October 15, 2019.
The property contains a total of 30,444 square feet of built space.
The average loan per unit is $225,862.
The last time the property sold was October 23, 2018, for $4,500,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $2,650,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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