Rosario Parlante borrows $8.4M from Arbor Realty Trust for property in Sheepshead Bay

Rosario Parlante through the entity Ave. T. Realty LLC as borrower signed a loan agreement with lender Arbor Realty Trust’s Arbor Commercial Funding I, LLC valued at $8.4 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 65 residential units at 2035 East 16th Street in Sheepshead Bay. The deal closed on November 10, 2020 and was recorded on November 20, 2020.
The property contains a total of 46,200 square feet of built space.
The average loan per unit is $129,230.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Those filings sought to increase the number of residential units by 65 to 65.

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