Ashkenazy Acquisition borrows $14M from Valley National Bank for property in Flatiron

Ashkenazy Acquisition with signatory Daniel Levy through the entity Mansion Realty LLC as borrower signed a loan agreement with lender Valley National Bank valued at $13.8 million for 2 parcels, including the tax class retail building with apartments above (K4) at 652 Avenue Of The Americas, 47 West 20th Street in Flatiron. The deal closed on April 7, 2020 and was recorded on April 20, 2020.

The loan package includes a gap loan of $1.23 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on April 30, 2013.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $480,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link