Steve Tenedios in care of MCP Property Management borrows $9M from New York Community Bank for property in Sunnyside

Steve Tenedios in care of MCP Property Management through the entity 47-46 40 Street Realty LLC as borrower signed a loan agreement with lender New York Community Bank valued at $8.5 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 55 residential units at 47-46 40th Street in Sunnyside. The deal closed on September 24, 2019 and was recorded on September 26, 2019.
The property contains a total of 50,400 square feet of built space.
The average loan per unit is $155,273.
The last time the property sold was August 23, 2016, for $15,000,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $583,759.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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