Nautilus Capital buys $1.5M note secured by 16-unit rental in Lenox Hill

Nautilus Capital LLC bought a note with an original principal of $1.5 million from Hanover Community Bank secured by Yiu Gwing Loo’s 16-unit rental (C7) at 1164 1st Avenue in Lenox Hill, Manhattan.
The deal closed on June 8, 2021 and was recorded on June 24, 2021.
The property has 7,625 square feet of built space and 12,615 square feet of additional air rights for a total buildable of 20,250 square feet according to PincusCo analysis of city data.

The owners according to the Department of Housing Preservation and Development include Yiu Loo, head officer and Yi Joe Loo, officer. The business entity is 1164 First Avenue Corp.

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