River Point Towers cooperative in University Heights borrows $18M from Apple Bank

River Point Towers cooperative as borrower signed a loan agreement with lender Apple Bank for Savings valued at $18 million for 1 parcel, including the tax class cooperative (D4) and containing 412 residential units at 555 Kappock Street in University Heights. The deal closed on April 1, 2020 and was recorded on April 3, 2020.
The property contains a total of 539,000 square feet of built space.
The average loan per unit is $43,689.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $3,267,491.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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