Turner Towers cooperative in Prospect Heights borrows $25M from Morgan Stanley

The Turner Towers cooperative signed a loan agreement with lender Morgan Stanley Bank valued at $25 million for 1 parcel, including the tax class cooperative (D4) and containing 186 residential units at 135 Eastern Parkway in Prospect Heights. The deal closed on October 29, 2020 and was recorded on November 27, 2020.
The property contains a total of 220,000 square feet of built space.
The average loan per unit is $134,409.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 187 residential (or hotel) units on August 28, 2012.
Over the past five years, there have been 38 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 38 renovation/alteration projects (A2) applied for with a total estimated value of $7,100,765.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA.

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