Atlas Capital Group borrows $55M from Valley National Bank for acquisition of office building in West Village

Jeff Goldberger and Andy Cohen’s Atlas Capital Group through the entity Atlas V Leroy LLC as borrower signed a loan agreement with lender Valley National Bank valued at $55 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 110 Leroy Street in West Village. The deal closed on January 14, 2020 and was recorded on January 21, 2020.
The property contains a total of 67,500 square feet of built space.
The average loan per buildable square foot is $815.
This was an acquisition loan. Atlas purchased the building at the same time, for $75 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on May 15, 2019.
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 $439,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link