AlleyCorp signs $30M construction loan with Goldman Sachs for mixed-use in Nolita

AlleyCorp through the entity 174 Mott Owner LLC as borrower signed an alteration construction loan with lender Goldman Sachs valued at $30 million for the mixed-use building (K4) at 368 Broome Street in Nolita, Manhattan.

On the lot, there is one active major alteration construction project, 123819305, for a 34,010 square-foot office (B) building. The project was submitted by Hesky Haim with plans filed June 27, 2019 and permitted May 27, 2021.
The deal closed on December 12, 2025 and was recorded on December 17, 2025. The property has 32,214 square feet of built space and 1,986 square feet of additional air rights for a total buildable of 34,175 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $931 and the price per buildable square foot is $877 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 owner bought the property on September 8, 2022, for $41 million. The signatory for AlleyCorp and Hesky Haim was Kevin Ryan.

The property

The mixed-use building in Nolita has 32,214 square feet of built space and 1,986 square feet of additional air rights for a total buildable of 34,175 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 109 feet deep with a total lot size of 5,677 square feet. The lot is irregular. The city-designated market value for the property in 2022 is $2.6 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 two DOB violations and $2,640 in OATH penalties in the last year.

The neighborhood

In Nolita, The bulk, or 50 percent of the 3.1 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 20 percent of the space. In sales, Nolita has had very little sales volume relative to other neighborhoods with $122 million in sales volume in the last two years. For development, Nolita has had very little major development activity relative to other neighborhoods.It had 477,743 square feet of commercial and multi-family construction under development in the last two years, which represents 16 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 11 of the 25 commercial properties representing 143,385 square feet of the 317,551 square feet. The largest owner is J&L Holding, followed by Candido P. Fernandez and then Witnick Real Estate Partners.
There are no active new building construction projects on this tax block.

The majority, or 66 percent of the 317,551 square feet of built space are walkup buildings, with mixed-use buildings next occupying 13 percent of the space.

The borrower

The PincusCo database currently indicates that Alleycorp owned at least one commercial property in New York City with 32,214 square feet and a city-determined market value of $2.6 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single mixed-use property. It is located in Manhattan.
The PincusCo database currently indicates that Hesky Haim owned at least one commercial property in New York City with 8,637 square feet and a city-determined market value of $2.3 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single office property. It is located in Manhattan.

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