Surjeet Kaur obtains first loan for Pelham Parkway hotel development totaling $5M

Surjeet Kaur through the entity 33 Investors LLC as borrower signed a loan agreement with lender Newbank valued at $5 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 3300 Webster Avenue in Pelham Parkway. The deal closed on June 24, 2020 and was recorded on August 3, 2020.
There has been one new building permit application totaling 28,373 square feet. Those plans include a total of 62 hotel units.
This is the first debt the owner has placed on the building since it acquired the property on October 23, 2019 for $2 million.

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.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link