Chris Chin’s Boquen Realty borrows $10M from JPMorgan Chase Bank for office property in Soho

Chris Chin’s Boquen Realty Inc. as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $10.0 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 13 Crosby Street in Soho. The deal closed on October 25, 2019 and was recorded on November 1, 2019.
The property contains a total of 38,000 square feet of built space.
The average loan per buildable square foot is $263.

Over the past five years, there have been 9 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 $42,900. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $1,635,622.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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