Parkway Village Equities borrows $76M from New York Community for property in Hillcrest

Parkway Village Equities Corp. as borrower signed a loan agreement with lender New York Community Bank valued at $76 million for 1 parcel, including the tax class cooperative (C6) and containing 675 residential units at 81-26 150th Street in Hillcrest. The deal closed on September 25, 2020 and was recorded on October 17, 2020.
The property contains a total of 704,500 square feet of built space. The property has 1,195,610 square feet of available development rights.

Over the past five years, there have been 22 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 22 renovation/alteration projects (A2) applied for with a total estimated value of $1,259,280.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was James C. Ricca