Morley Kaye borrows $7.3M from TD Bank to refi multifamily property in Forest Hills

Morley Kaye through the entity Carlton House, LLC as borrower signed a loan agreement with lender TD Bank valued at $7.3 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 76 residential units at 109-15 Queens Boulevard in Forest Hills, Queens. The deal closed on June 11, 2020 and was recorded on June 30, 2020.
The property contains a total of 63,000 square feet of built space. The property has 74,475 square feet of available development rights.
The average loan per unit is $96,053.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $80,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link