NYC Housing Partnership obtained financing of $8M from Suntrust Bank

NYC Housing Partnership through the entity Sunset Park Owner Iv LLC as borrower signed a loan agreement with lender Suntrust Bank valued at $7.9 million for 3 parcels, including the tax class multifamily, five to six families (C2) and containing 28 residential units at 217 55 Street, 213 55 Street, 558 50 Street in Sunset Park. The deal closed on July 30, 2019 and was recorded on August 08, 2019.
The property contains a total of 24,296 square feet of built space. The property has 2,200 square feet of available development rights.
The average loan per unit is $283,907.
The last time the property sold was June 13, 2017, for $6,850,000.

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Direct link to the city’s interactive property map, ZOLA. link

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