Quantum Equities borrows $13M from Citi Real Estate Funding for new rental property in Mott Haven

Quantum Equities through the entity 333 Cypress De LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $13.2 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 43 residential units at 333 Cypress Avenue in Mott Haven. The deal closed on October 11, 2019 and was recorded on November 1, 2019.
The property contains a total of 28,232 square feet of built space.
The average loan per unit is $306,977.
The last time the property sold was March 11, 2016, for $2,310,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 41 residential units on November 15, 2018.

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