Alan Manocherian signs $40M refi for rental in Greenwich Village

Alan Manocherian through the entity Amdar Company, LLC as borrower signed a refi loan with lender Bank of New York Mellon valued at $40 million for the 176-unit rental (D5) at 752 Broadway in Greenwich Village, Manhattan.
The deal closed on December 1, 2021 and was recorded on December 17, 2021.
The property has 147,773 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $270 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 Alan Manocherian was Alan Manocherian. The signatory for Bank of New York Mellon was Christopher A. Hofstedt.

The owners according to the Department of Housing Preservation and Development include Jeffrey Manocherian, head officer and Alan Manocherian, officer. The business entities are Amdar Company Llc and Amdar Company Llc.

Within a 400-foot radius of 752 Broadway, PincusCo identified five commercial real estate items of interests occurred over the past 24 months.
Of those five items, two were for major renovation including a certificate of occupancy change. They were two initial temporary certificate of occupancy issuances for projects that initially costed $9.2 million. The most recent of these two items was the temporary certificate of occupancy on October 9, 2020 for a 71,920-square-foot B building with no residential units at 440 Lafayette Street.
One of those five items was a sale which Select Garages bought one condo unit in the 19,555-square-foot, 216-unit mixed-use building (RM) on 60 East 9th Street and two other properties for $16.2 million from Zucker Organization on October 28, 2021.
Of those five items, two were loans above $5 million totaling $22.2 million. The most recent of the two was Select Garages which borrowed $10.5 million from Signature Bank secured by one condo unit in the 19,555-square-foot, 216-unit mixed-use building (RM) on 60 East 9th Street and two other properties on November 24, 2021.

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