Charles Roy Fitzgerald signs $13M refi for two mixed-use properties in East Village

Charles Roy Fitzgerald through the entity 9 St. Marks Place, Inc. as borrower signed a refi loan with lender JPMorgan Chase valued at $13 million for two mixed-use properties with eight residential units including the four-unit mixed-use building (K4) at 12 St. Marks Place in East Village, Manhattan and four-unit mixed-use building (S4) at 9 St. Marks Place in East Village, Manhattan.
The deal closed on July 16, 2025 and was recorded on July 22, 2025. The prior lender was JPMorgan Chase which held debt that had an original loan amount of $11 million.The two properties have 23,152 square feet of built space and 4,917 square feet of additional air rights for a total buildable of 26,944 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $561 and the price per buildable square foot is $482 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Charles Roy Fitzgerald was Charles Roy Fitzgerald. The signatory for JPMorgan Chase was Ursula Flores.

Because multiple properties have been transacted, some of the following sections will follow the property with the largest assessed value, which in this case, is the property on 9 St Marks Place.

Prior sales and revenue

The owners according to the Department of Housing Preservation and Development includes Charles Fitzgerald, head officer and Kathryn Cerick, agent. The business entity is 9 St Marks Pl Inc. The two properties with a total of 23,152 square feet of built space generated revenue of $1.4 million per year or $59 per square foot.

The property

The mixed-use building with 4 residential units in East Village has 23,152 square feet of built space and 4,917 square feet of additional air rights for a total buildable of 26,944 square feet according to a PincusCo analysis of city data. The parcel has frontage of 32 feet and is 112 feet deep with a total lot size of 3,616 square feet. The lot is irregular. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $6.2 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received one DOB violation and $1,675 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In East Village, The bulk, or 44 percent of the 15.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 20 percent of the space. In sales, East Village has 2.4 times the average sales volume among other neighborhoods with $634.1 million in sales volume in the last two years and is the 15th highest in Manhattan. For development, East Village has had very little major development activity relative to other neighborhoods.It had 541,390 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other mixed-use buildings in the past 12 months.

The block

On the tax block of 9 St Marks Place, PincusCo has identified the owners of 17 of the 30 commercial properties representing 167,712 square feet of the 270,844 square feet. The largest owner is Gpg Properties, followed by Toraji Corporation and then Movcap.
On the tax block, there was one new building construction project filed totaling 29,089 square feet. It is a 29,089 square-foot business (B) building submitted by Mark Seigel with plans filed October 12, 2018 and permitted April 27, 2023.

The majority, or 56 percent of the 270,844 square feet of built space are walkup buildings, with mixed-use buildings next occupying 16 percent of the space.

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