Newport East co-op borrows $14M from National Consumer Cooperative Bank for building in Lenox Hill

Newport East, Inc. as borrower signed a loan agreement with lender National Consumer Cooperative Bank valued at $13.5 million for 369 residential units at the cooperative building the Newport East at 370 East 76th Street in Lenox Hill. The deal closed on August 28, 2019 and was recorded on September 20, 2019.
The property contains a total of 386,435 square feet of built space.
The average loan per unit is $36,585.

Over the past five years, there have been 11 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 11 renovation/alteration projects (A2) applied for with a total estimated value of $2,190,910.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link