40-50 East 10th Street cooperative in West Village borrows $18M from Bank of New York Mellon

40-50 East 10th Street cooperative through the entity 40-50 Tenants Corp as borrower signed a loan agreement with lender The Bank Of New York Mellon valued at $18 million for 1 parcel, including the tax class cooperative (D4) and containing 111 residential units at 38 East 10th Street in the West Village. The deal closed on April 30, 2020 and was recorded on May 4, 2020.
The property contains a total of 160,896 square feet of built space.
The average loan per unit is $162,162.
The financing includes $10.45 million in new debt.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $2,948,310.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link