Rudd Realty Management affiliate borrows $7M from Valley National Bank for property in the Upper West Side

Rudd Realty Management affiliate through the entity 495 Amsterdam Avenue LLC as borrower signed a loan agreement with lender Valley National Bank valued at $7.4 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 9 residential units at 495 Amsterdam Avenue in the Upper West Side. The deal closed on August 5, 2019 and was recorded on September 24, 2019.
The property contains a total of 9,975 square feet of built space. The property has 8,589 square feet of available development rights.
The average loan per buildable square foot is $396.

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 $175,800.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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