Tryad Group borrows $14M from New York Community for 132-unit rental in Corona

Tryad Group through the entity The Jonathan Company- Mm, L.P. as borrower signed a loan agreement with lender New York Community Bank valued at $14.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 132 residential units at 34-12 113th Street in Corona. The deal closed on January 25, 2021 and was recorded on March 22, 2021.
The property contains a total of 133,542 square feet of built space.
The average loan per unit is $106,023.
The financing includes at $3.9 million gap loan.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

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