Yeshivat Darche Eres, Inc. obtained financing of $19M from Israel Discount Bank Of New York

Yeshivat Darche Eres, Inc. as borrower signed a loan agreement with lender Israel Discount Bank Of New York valued at $18.5 million for 1 parcel, including the tax class office building with ten stories or more (side street type) (O2) at 325 Avenue Y in Ocean Parkway. The deal closed on August 22, 2019 and was recorded on August 28, 2019.
The property contains a total of 53,351 square feet of built space.
The average loan per buildable square foot is $347.
The last time the property sold was November 30, 2006, for $3,500,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on September 04, 2015.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,300,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,447,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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