New York Community Hospital borrows $20M from Maimonides Medical Center for property in Sheepshead Bay

New York Community Hospital as borrower signed a loan agreement with lender Maimonides Medical Center valued at $20.0 million for 1 parcel, including the tax class hospitals, sanitariums, mental institutions (I1) at 2525 Kings Highway in Sheepshead Bay. The deal closed on March 11, 2020 and was recorded on June 23, 2020.
The property contains a total of 113,300 square feet of built space.
The average loan per buildable square foot is $177.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $251,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link