309 Canal Owner LLC obtained financing of $21M from Citi Real Estate Funding

309 Canal Owner LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $20.8 million for 1 parcel, including the tax class loft with retail stores (L8) and containing 18 residential units at 309 Canal Street in Soho. The deal closed on July 22, 2019 and was recorded on August 01, 2019.
The property contains a total of 30,060 square feet of built space.
The average loan per unit is $1,152,778.
The last time the property sold was May 17, 2005, for $10,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 18 residential (or hotel) units on August 02, 2012.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $479,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link