Treeline obtained financing of $13M from Signature Bank

Treeline through the entity Treeline 188 Montague LLC as borrower signed a loan agreement with lender Signature Bank valued at $13.3 million for 1 parcel, including the tax class miscellaneous office building (O9) at 188 Montague Street in Brooklyn Heights. The deal closed on July 19, 2019 and was recorded on July 29, 2019.
The property contains a total of 72,026 square feet of built space. The property has 23,976 square feet of available development rights.
The average loan per buildable square foot is $184.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $624,545.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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