Aview Equities borrows $37M from Merchants Bank of Indiana for multifamily property in Plaza District

Abraham Leifer’s Aview Equities through the entity 19 W 55 LLC as borrower signed a loan agreement with lender Merchants Bank Of Indiana valued at $36.8 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 29 residential units at 19 West 55th Street in Plaza District. The deal closed on December 30, 2019 and was recorded on January 15, 2020.
The property contains a total of 34,454 square feet of built space. The property has 40,004 square feet of available development rights.
The average loan per unit is $1,267,586.
The last time the property sold was December 28, 2017, for $50,000,000.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $5,220,600. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $350,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link