Blumenfeld Development Group borrows $20M from Valley National Bank for property in Noho

Blumenfeld Development Group through the entity 41 Great Jones Holdings, LLC as borrower signed a loan agreement with lender Valley National Bank through the entity Valley National Bank valued at $19.8 million for 1 parcel, including the tax class three-family (C0) and containing 3 residential units at 41 Great Jones Street in Noho. The deal closed on November 21, 2019 and was recorded on December 5, 2019.
The property contains a total of 13,490 square feet of built space.
The average loan per buildable square foot is $854.
The last time the property sold was December 3, 2013, for $11,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 3 residential units on October 29, 2019.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $2,183,600. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $487,750.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link