Triumph Hotels borrows $13M from Popular Bank for property in Fort Greene

Shimmie Horn’s Triumph Hotels through the entity 200 Tillary Real Estate Holdings LLC as borrower signed a loan agreement with lender Popular Bank valued at $13 million for 1 parcel, including the tax class homes for indigent children, aged, homeless (N2) and containing 47 residential units at 194 Tillary Street in Fort Greene. The deal closed on December 18, 2020 and was recorded on December 29, 2020.
The property contains a total of 65,645 square feet of built space.
The average loan per unit is $276,596.
This is a refinance that added $3 million to the 2018 total of $10 million. This property is adjacent to Maddd Equities and Joy Construction which nearly doubled their debt to $31 million.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $59,000.

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