42 Grand LLC obtained financing of $6M from Metropolitan Commercial Bank

42 Grand LLC as borrower signed a loan agreement with lender Metropolitan Commercial Bank valued at $5.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 16 residential units at 44 Grand Street in Soho. The deal closed on June 13, 2019 and was recorded on July 22, 2019.
The property contains a total of 12,531 square feet of built space. The property has 2,381 square feet of available development rights.
The average loan per unit is $343,750.
The last time the property sold was July 08, 2016, for $12,100,000.

Over the past five years, there have been 13 NYC Department of Buildings permit applications filed for this parcel. There were 13 renovation/alteration projects (A2) applied for with a total estimated value of $421,150.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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