UPACA SITE 7 ASSOCIATES obtained financing of $25M from BANKUNITED

UPACA SITE 7 ASSOCIATES, L.P. as borrower signed a loan agreement with lender BANKUNITED, N.A. valued at $25.3 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 134 residential units at 1900 Lexington Avenue in East Harlem. The deal closed on June 28, 2019 and was recorded on July 10, 2019.
The property contains a total of 201,276 square feet of built space.
The average loan per unit is $188,806.
The last time the property sold was March 12, 2008, for $8,771,179.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $28,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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