Sharon L Gustafson-Florescue borrows $11M from CUNA Mutual Group for UWS retail property

Florida investor Sharon L Gustafson-Florescue through the entity Ashley 2160 LLC as borrower signed a loan agreement with lender CUNA Mutual Group, a life insurance and investment company, through the entity CMFG Life Insurance Company valued at $11 million for 1 parcel, including the tax class bank building with or without parking (K7) at 2160 Broadway in the Upper West Side. The deal closed on February 19, 2020 and was recorded on February 27, 2020.
The property contains a total of 8,820 square feet of built space. The property has 22,102 square feet of available development rights.
The average loan per buildable square foot is $498.

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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $844,541. There was one renovation/alteration project (A2) applied for with a total estimated value of $90,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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