WellLife Network gets $16.2M construction loan from Merchants Bank of Indiana for Glendale project

WellLife Network through the entity Cypress Avenue Apartments, LLC as borrower signed a loan agreement with lender Merchants Bank of Indiana valued at $16.2 million for 1 parcel at 80-97 Cypress Avenue in Glendale. The deal closed on September 17, 2020 and was recorded on October 20, 2020.

There have been 2 new building permit applications totaling 90,315 square feet. Those plans include a total of 132 residential units. There has been one demolition project filed for the parcels over the past five years.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. The demolition included 18 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link