Croman Real Estate borrows $16M from New York Community Bank for multifamily property in East Village

Steve Croman’s Croman Real Estate through the entity M & E 410 E. 13th St., LLC as borrower signed a loan agreement with lender New York Community Bank valued at $16.4 million for 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 35 residential units at 410 East 13th Street in East Village. The deal closed on December 11, 2019 and was recorded on December 27, 2019.
The property contains a total of 18,674 square feet of built space. The property has 22,704 square feet of available development rights.
The average loan per unit is $467,143.

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. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $321,650.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link