Townsend House cooperative in Lenox Hill borrows $10M from TD Bank

Townsend House cooperative as borrower signed a loan agreement with lender TD Bank valued at $10 million for 1 parcel, including the tax class cooperative (D4) and containing 95 residential units at 1218 3rd Avenue in Lenox Hill. The deal closed on February 26, 2020 and was recorded on March 11, 2020.
The property contains a total of 212,118 square feet of built space.
The average loan per unit is $105,263.

Over the past five years, there have been 17 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $500. There were 16 renovation/alteration projects (A2) applied for with a total estimated value of $2,560,211.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link