Croman Real Estate borrows $34M from Axos Bank for property in Lower East Side

Steven Croman’s Croman Real Estate through the entity 326-338 E 100th LLC as borrower signed a loan agreement with lender Axos Bank valued at $34.4 million for 3 parcels, including the tax class primarily three family with store or office (S3) and containing 97 residential units at 151 Rivington Street, 153 Rivington Street, 326 East 100th Street in Lower East Side and East Harlem. The deal closed on September 26, 2019 and was recorded on October 15, 2019.
The property contains a total of 2,631 square feet of built space. The property has 1,652 square feet of available development rights.
The average loan per unit is $354,742.
The last time the property sold was June 27, 2006, for $1,250,000. New York Community Bank was the prior lender on the properties, and assigned the debt to Axos.

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