Naftali Group obtained financing of $266M from HSBC BANK USA

Naftali Group through the entity 1461-1469 THIRD AVE OWNER LLC as borrower signed a loan agreement with lender HSBC BANK USA, NATIONAL ASSOCIATION valued at $266.0 million for 6 parcels, including the tax class primarily one to six families with stores or offices (S9) and containing 14 residential units at 1469 3 Avenue, 1467 3 Avenue, 1463 3 Avenue, 1461 3 Avenue, 204 East 83 Street, and others in Yorkville. The deal closed on June 28, 2019 and was recorded on July 11, 2019.
The property contains a total of 103,832 square feet of built space. The property has 73,406 square feet of available development rights.
The average loan per unit is $3,093,023.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel.There has been one new building permit application totaling 208,881 square feet. Those plans include a total of 86 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 8 residential units.
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