Meridian Properties borrows $6.3M from Dime Community Bank to buy rental property in Carroll Gardens

Meridian Properties through the entity Epsilon Union 5K LLC as borrower signed a loan agreement with lender Dime Community Bank valued at $6.3 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 36 residential units at 356 Union Street, 360 Union Street in Carroll Gardens. The deal closed on August 26, 2020 and was recorded on September 9, 2020.

The average loan per unit is $175,000.

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 $150,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link