Allied Realty & Development Corp. borrows $7M from Santander Bank for property in East Village

Allied Realty & Development Corp. through the entity Allied V LLC as borrower signed a loan agreement with lender Santander Bank, N.A. valued at $7.0 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 21 residential units at 103 St Marks Place in East Village. The deal closed on September 20, 2019 and was recorded on September 26, 2019.
The property contains a total of 13,405 square feet of built space. The property has 669 square feet of available development rights.
The average loan per unit is $333,333.
The last time the property sold was May 19, 2016, for $11,535,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $50,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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