Andrew Impagliazzo gets $13M construction loan from Sterling National for project in Clinton

Andrew Impagliazzo through the entity 621 W 55 LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $13.0 million for 1 parcel, including the tax class miscellaneous (K9) at 621 West 55th Street in Clinton. The deal closed on March 3, 2021 and was recorded on April 20, 2021.
The property contains a total of 6,000 square feet of built space.
The $13 million construction loan is composes of a $9.7 million building loan and a $3.3 million land loan. The prior lender was Enclave Equities, which provided a $3 million loan which was paid off in this transaction. The last time the property sold was May 14, 2018 for $6,600,000.
Over the past five years, there have been 3 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 $1,834,800.0. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $356,775.

Direct link to Acris document. link