Third & Twenty Eight LLC obtained financing of $7M from New York Community Bank

Third & Twenty Eight LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 16 residential units at 380 3 Avenue in Flatiron. The deal closed on June 26, 2019 and was recorded on July 23, 2019.
The property contains a total of 29,611 square feet of built space. The property has 17,861 square feet of available development rights.
The average loan per unit is $466,250.
The last time the property sold was June 01, 2004, for $1,500,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 16 residential (or hotel) units on April 29, 2014.

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

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