SKF Development obtained financing of $11M from Valley National Bank

SKF Development through the entity 2306 Webster Development LLC as borrower signed a loan agreement with lender Valley National Bank valued at $11.1 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 2306 Webster Avenue in Tremont. The deal closed on August 09, 2019 and was recorded on September 05, 2019.
The property contains a total of square feet of built space. The property has 41,713 square feet of available development rights.
The average loan per buildable square foot is $265.

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.There has been one new building permit application totaling 54,678 square feet. Those plans include a total of 71 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article