Parc V co-op in Lenox Hill borrows $12M from Apple Bank or Savings

The Parc V cooperative through the entity Fifth Avenue And 60th Street Corporation as borrower signed a loan agreement with lender Apple Bank For Savings valued at $12 million for 1 parcel, including the tax class cooperative (D4) and containing 66 residential units at 785 Fifth Avenue in Lenox Hill. The deal closed on January 14, 2021 and was recorded on January 29, 2021.
The property contains a total of 174,780 square feet of built space.
The average loan per unit is $181,818.

Over the past five years, there have been 13 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 13 renovation/alteration projects (A2) applied for with a total estimated value of $1,793,800.

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