Abraham Daniels, James Daniels borrow $20M from Valley National for property in Flatiron

Abraham Daniels and James D. Daniels through the entity 9 East 16th Street LLC as borrower signed a loan agreement with lender Valley National Bank valued at $20 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 15 residential units at 9 East 16th Street in Flatiron. The deal closed on October 1, 2020 and was recorded on November 19, 2020.
The property contains a total of 30,680 square feet of built space.
The average loan per unit is $1,333,333.
The last time the property sold was January 27, 2017 for $489,854.

Over the past five years, there have been 11 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $50,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $1,265,705.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Leo Kuba