Parkoff signs $16.3M refi with New York Community Bank for two properties in Kingsbridge

The Parkoff Organization through the entity Netherlands Property Assets LLC as borrower signed a refi loan with lender New York Community Bank valued at $16.3 million for two properties including the 66-unit rental (D7) at 3300 Netherland Avenue in Kingsbridge, Bronx and retail building (K1) at 564-574 West 235th Street in Kingsbridge, Bronx.
The deal closed on June 1, 2021 and was recorded on September 3, 2021.
The two properties have 86,880 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $187 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Parkoff Organization was Adam Parkoff. The signatory for New York Community Bank was Daniel M. Bagatta.

This is a loan modification.
The owners according to the Department of Housing Preservation and Development includes A Richard Parkoff, head officer and Allison Anderson, officer. The business entities are Netherland Prop Assets Llc C/O New Park and Netherland Property Assets Llc C/O New.

Within a 400-foot radius of 3300 Netherland Avenue, PincusCo identified one commercial real estate item of interest occurred over the past 24 months.
It was a loan which Chaim Babad borrowed $10.8 million from Dime Community Bank secured by the 100,498-square-foot, 85-unit rental (D1) on 3220 Netherland Avenue on October 21, 2020.

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