Cid Associates borrows $6M from JPMorgan Chase in East Village

Cid Associates with signatory Diana Ruhl through the entity Cid Associates LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $6 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 104 residential units at 101 St Marks Place, 95 St Marks Place in East Village. The deal closed on May 28, 2020 and was recorded on June 1, 2020.
The property has 58,217 square feet of built and available development rights.
The average loan per unit is $57,692.

The buildings are owned by John and Daniel Ilibassi, and others, according to information from the city’s Housing Preservation and Development.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link