The Lower East Side People’s Mutual Housing Assoc. obtained financing of $9M from The City Of New York

The Lower East Side People’S Mutual Housing Association as borrower signed a loan agreement with lender The City Of New York, Acting By And Through HPD valued at $8.6 million for 7 parcels, including the tax class multifamily, over six families without stores (C1) and containing 106 residential units at 230 East 4 Street, 278 East 3 Street, 45 Clinton Street, 13 Clinton Street, 167 Suffolk Street, and others in East Village. The deal closed on July 30, 2019 and was recorded on August 19, 2019.
The property contains a total of 118,609 square feet of built space. The property has 1,367 square feet of available development rights.
The average loan per unit is $80,824.

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