OI Smart Investments Ltd. obtained financing of $7M from 172 India 194 Ainslie Capital LLC

OI Smart Investments Ltd. through the entity 172 India Villa LLC as borrower signed a loan agreement with lender 172 India 194 Ainslie Capital LLC valued at $7.3 million for 2 parcels, including the tax class multifamily, over six families without stores (C1) and containing 14 residential units at 172 India Street, 194 Ainslie Street in Greenpoint. The deal closed on August 30, 2019 and was recorded on September 12, 2019.
The property contains a total of 5,500 square feet of built space. The property has 3,200 square feet of available development rights.
The average loan per unit is $517,857.
The last time the property sold was February 17, 2015, for $1,550,000.

Over the past five years, there have been 4 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 $155,000.There has been one new building permit application totaling 4,983 square feet. Those plans include a total of 7 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 2 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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