Prana Investments obtained financing of $11M from Signature Bank

Prana Investments through the entity 561 West 179 St. Nyc LLC as borrower signed a loan agreement with lender Signature Bank valued at $11.1 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 56 residential units at 561 West 179 Street in Washington Heights. The deal closed on August 22, 2019 and was recorded on August 29, 2019.
The property contains a total of 37,533 square feet of built space.
The average loan per unit is $197,321.
The last time the property sold was December 19, 2006, for $14,575,000.

Over the past five years, there have been 2 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 $62,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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