Sugar Hill Capital refis $10.6M from Signature Bank for 61-unit rental in Inwood

Sugar Hill Capital Partners through the entity 139 Payson Residences, LLC as borrower signed a loan agreement with lender Signature Bank valued at $10.6 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 61 residential units at 139 Payson Avenue in Inwood. The deal closed on August 13, 2020 and was recorded on August 21, 2020.
The property contains a total of 61,584 square feet of built space.
The average loan per unit is $173,770.
The last time the property sold was December 14, 2016, for $19,200,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $561,869.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link