Charles Blaichman of CB Developers borrows $14M from Sterling National for property in West Village

Charles Blaichman’s CB Developers through the entity 47 Development LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $14 million for 1 parcel, including the tax class dormitory (H8) and containing 65 residential units at 48 West 14th Street in West Village. The deal closed on April 8, 2020 and was recorded on April 8, 2020.
The loan package includes a $4.5 million gap mortgage.
The property contains a total of 60,930 square feet of built space.
The average loan per unit is $215,385.

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 $392,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link