Arik Lifshitz’s DSA Property Group borrows $32M from Signature Bank for multifamily property in LIC

Arik Lifshitz’s DSA Property Group through the entity 29-28 41st Avenue Owner LLC as borrower signed a loan agreement with lender Signature Bank valued at $31.5 million for 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 103 residential units at 41-15 29th Street, 29-28 41st Avenue in Long Island City. The deal closed on November 12, 2019 and was recorded on November 27, 2019.
The property contains a total of 96,456 square feet of built space.
The average loan per unit is $305,825.
The last time the property sold was May 17, 2010, for $12,750,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 103 residential units on November 14, 2013.
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 $120,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link