354 West 20Th Street LLC obtained financing of $8M from First Republic Bank

354 West 20Th Street LLC as borrower signed a loan agreement with lender First Republic Bank valued at $7.6 million for 1 parcel, including the tax class multifamily, converted dwelling or rooming house (C5) at 354 West 20 Street in Chelsea. The deal closed on April 29, 2019 and was recorded on August 01, 2019.
The property contains a total of 4,600 square feet of built space. The property has 123 square feet of available development rights.
The average loan per buildable square foot is $1,645.
The last time the property sold was July 20, 2014, for $6,200,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on October 02, 2018.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $715,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link