Yusuf Bildirici borrows $21M from Cantor Commercial for multifamily property in Gramercy

Yusuf Bildirici through the entity East 14th Delaware Realty, LLC as borrower signed a loan agreement with lender Cantor Commercial Real Estate Lending, L.P. valued at $20.5 million for 2 parcels, including the tax class multifamily, semi-fireproof with stores (D7) and containing 35 residential units at 231 2nd Avenue, 235 2nd Avenue in Gramercy. The deal closed on February 27, 2020 and was recorded on March 11, 2020.
The property has 36,240 square feet of available development rights.
The average loan per unit is $585,714.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 32 residential (or hotel) units on October 4, 2016.
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. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $196,490.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link