Norfolk Associates LLC obtained financing of $6M from BNB Bank

Norfolk Associates LLC as borrower signed a loan agreement with lender BNB Bank valued at $6.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 35 residential units at 149 Norfolk Street in Lower East Side. The deal closed on July 29, 2019 and was recorded on August 06, 2019.
The property contains a total of 22,404 square feet of built space.
The average loan per unit is $185,714.
The last time the property sold was June 15, 2016, for $12,000,000.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $779,490.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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