Romanello Realty Corp obtained financing of $9M from New York Community Bank

Romanello Realty Corp as borrower signed a loan agreement with lender New York Community Bank valued at $9.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 112 residential units at 275 Bay 37 Street in Gravesend. The deal closed on August 13, 2019 and was recorded on August 22, 2019.
The property contains a total of 89,448 square feet of built space.
The average loan per unit is $80,357.

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 $160,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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