Pan Am Equities obtained financing of $12M from People’s United Bank

Pan Am Equities through the entity 65 4th Avenue LLC as borrower signed a loan agreement with lender People’s United Bank, National Association valued at $11.5 million for 1 parcel, including the tax class multifamily, converted (D5) and containing 35 residential units at 65 4th Avenue in East Village. The deal closed on July 31, 2019 and was recorded on August 06, 2019.
The property contains a total of 26,455 square feet of built space.
The average loan per unit is $328,571.
The last time the property sold was December 18, 2009, for $8,485,000.

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 $170,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link