Sudhakar Rayapudi refis $9.5M with New York Community Bank for property in Clinton

Sudhakar Rayapudi through the entity 801 /803 LLC as borrower signed a loan agreement with lender New York Community Bank valued at $9.5 million for 3 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 30 residential units at 801 9th Avenue, 803 9th Avenue, and 650 9th Avenue in Clinton. The deal closed on February 8, 2021 and was recorded on February 22, 2021.
The property has 33,405 square feet of available development rights.
The average loan per unit is $316,667.

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.

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