Novum Properties obtained financing of $9M from Bankunited

Novum Properties through the entity Marksue Realty Corporation as borrower signed a loan agreement with lender Bankunited, N.A. valued at $8.8 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 40 residential units at 211 East 5 Street, 209 East 5 Street in East Village. The deal closed on July 12, 2019 and was recorded on July 19, 2019.
The property contains a total of 19,713 square feet of built space. The property has 2,328 square feet of available development rights.
The average loan per unit is $220,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $52,730.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article