Allied Partners buys $16.4M note secured by SPL Properties’ Bay Ridge office

Allied Partners through the entity Signature Lien Acquisitions III, LLC, bought a note with an original principal of $16.4 million from New York Community Bank secured by SPL Properties’ office building (O6) at 9201 4th Avenue in Bay Ridge, Brooklyn. At the same time, Allied collaterally assigned a portion of the loan to Madison Realty Capital, through Madison’s 9201 Fourth Avenue LLC.
The deal closed on April 19, 2021 and was recorded on May 27, 2021.
The property has 79,173 square feet of built space.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.
PincusCo reported that Allied filed on May 25, 2021, to foreclose on this lien.

Correction: a prior version of this post had the incorrect LLC for Allied.

Direct link to Acris document. link