Sunset Park Owner III LLC obtained financing of $12M from Suntrust Bank

Sunset Park Owner Iii LLC as borrower signed a loan agreement with lender Suntrust Bank valued at $12.5 million for 1 parcel, including the tax class multifamily, converted (D5) and containing 45 residential units at 5314 6 Avenue in Sunset Park. The deal closed on August 14, 2019 and was recorded on August 22, 2019.
The property contains a total of 45,800 square feet of built space.
The average loan per unit is $276,749.
The last time the property sold was June 13, 2017, for $11,030,921.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $168,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link