Rybak Development gets $30M construction loan from Bank Leumi for property in Yorkville{

Rybak Development through the entity 333 East 82nd Street Development LLC as borrower signed a loan agreement with lender Bank Leumi Usa valued at $30.0 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 333 East 82nd Street in Yorkville. The deal closed on November 12, 2020 and was recorded on January 5, 2021.
In 2018, Rybak filed plans for a 21-units, 30,346-square-foot building at the site.

This is a new construction and land loan, composed of a $13.8 million land loan, a an $11.97 million building loan and a $4.23 million project loan. The last time the property sold was December 19, 2018 for $5,000,000.

There have been 2 demolition projects filed over the past five years. The demolition included 16 residential units.
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