$7M refi signed with JPMorgan Chase for 46-unit rental in East Village

The family that owns the entity 525 East 13 LLC as borrower signed a refi loan with lender JPMorgan Chase valued at $7 million for the 46-unit residential elevator building (D3) at 525 East 13th Street in the East Village, Manhattan.
The deal closed on November 26, 2025 and was recorded on December 10, 2025. The prior lender was PIMCO which held debt that had an original loan amount of $7 million. The property has 30,893 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $226 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for the owner family was Mara Cohen . The signatory for JPMorgan Chase was Ursula Flores .

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Mara Cohen, head officer and David Ogrin, officer of Ogrin Management. The business entity is 525 East 13 Llc. The 30,893-square-foot property generated revenue of $2.3 million or $75 per square foot, according to the most recent income and expense figures.

The property

The residential elevator building with 46 residential units in Alphabet City has 30,893 square feet of built space according to a PincusCo analysis of city data. The parcel has frontage of 37 feet and is 103 feet deep with a total lot size of 3,872 square feet. The zoning is C1-6A which allows for up to 2 times floor area ratio (FAR) for commercial and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $13.1 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $50 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The block

On this tax block, PincusCo has identified the owners of nine of the 25 commercial properties representing 118,634 square feet of the 259,123 square feet. The largest owner is Ogrin Associates, followed by Sabet Group and then Sol Goldman Investments.
There are no active new building construction projects on this tax block.

The majority, or 83 percent of the 259,123 square feet of built space are walkup buildings, with elevator buildings next occupying 12 percent of the space.

The borrower

The PincusCo database currently indicates that Mara Cohen owned at least six commercial properties with 117 residential units in New York City with 62,572 square feet and a city-determined market value of $16.6 million. (Market value is typically about 50% of actual value.) Within the portfolio, all identified are walkup properties. They are all located in Manhattan.

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