THE ALYN LLC obtained financing of $20M from SIGNATURE BANK

THE ALYN LLC as borrower signed a loan agreement with lender SIGNATURE BANK valued at $20.0 million for 1 parcel, including the tax class garage with two or more stories (G1) and containing 56 residential units at 152 East 87 Street in Upper East Side. The deal closed on June 28, 2019 and was recorded on July 12, 2019.
The property contains a total of 285,082 square feet of built space. The property has 130,130 square feet of available development rights.
The average loan per unit is $357,143.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 56 residential (or hotel) units on April 12, 2019.
Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $4,083,480. Those filings sought to increase the number of residential units by 56 to 56 There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $2,531,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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