Yuco Management borrows $17M from Capital One for multifamily property in Sunset Park

Yuco Management through the entity Sunset Park Development Corp. as borrower signed a loan agreement with lender Capital One valued at $16.5 million for 12 parcels, including the tax class multifamily, over six families without stores (C1) and containing 123 residential units at 5013 4th Avenue, 221 Van Brunt Street, 230 54th Street, 523 West 49th Street, 846 50th Street, and others in Sunset Park. The deal closed on December 6, 2019 and was recorded on December 19, 2019.
The property has 118,654 square feet of available development rights.
The average loan per unit is $134,146.

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