Dalan Management buys $12.8M in debt in Clinton Hill, West Village

Dalan Management through its SKW – B 33 West 9th Street Portfolio, LLC, acquired debt with a full value of $12.8 million from Prophet Capital Asset Management, secured by 2 parcels, including the tax class four families (C3) and containing 10 residential units at 139 Clinton Avenue in Clinton Hill and 33 West 9th Street in the West Village. The deal closed on June 5, 2020 and was recorded on June 17, 2020.
The property has 15,417 square feet of built space and available development rights.

In May 2018, Roc360’s Roc Capital Holdings provided $12.8 million in construction and other debt to property owner and developer Arthur Lambert Jr. Just over a week later, Roc Capital assigned the debt in June 2018 to Prophet Capital Asset Management. Prophet assigned the debt to Dalan, which is led by Andrew and Daniel Wrublin. Lambert has twice filed new building plans at 139 Clinton Avenue but both were disapproved. He also filed another set of plans that was permitted to increased the number of apartments in the four-story building from four to five. Those plans were permitted but the city imposed a partial stop work order in June 2019 that DOB records show remains in place.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link