St. Ann’s Portfolio Housing Development Fund Corp. borrows $12M for property in Mott Haven

St. Ann’s Portfolio Housing Development Fund Corp as borrower signed a loan agreement with lender New York City Housing Development Corporation valued at $11.6 million for 7 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 91 residential units at 218 St Anns Avenue, 590 East 138th Street, 946 Leggett Avenue, 948 Leggett Avenue, 1061 Intervale Avenue, and others in Mott Haven. The deal closed on September 6, 2019 and was recorded on September 19, 2019.
The property contains a total of 13,440 square feet of built space. The property has 8,138 square feet of available development rights.
The average loan per unit is $127,180.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $260,860.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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