Dalan Management signs $25.8M loan with Mesa West Capital for five properties in West Village

Dalan Management through the entity Christopher Bleecker Owner LLC as borrower signed a loan with lender Mesa West Capital through the entity Mwc 49 Holdings, LLC valued at $25.8 million for five properties including the 20-unit rental (C7) at 89 Christopher Street in West Village, Manhattan, 20-unit rental (C7) at 91 Christopher Street in West Village, Manhattan, and four-unit mixed-use building (S9) at 329 Bleecker Street in West Village, Manhattan.
The deal closed on June 23, 2021 and was recorded on July 12, 2021.
The five properties have 29,769 square feet of built space and 0 square feet of additional air rights for a total buildable of 26,721 square feet according to PincusCo analysis of city data. The loan price per built square foot is $866 per the PincusCo analysis.
The signatory for Dalan Management was Andrew Wrublin. The signatory for Mesa West Capital was Jeff Friedman.

The owners according to the Department of Housing Preservation and Development includes Andrew Wrublin, head officer and Richard Resto, site manager. The business entities are Dalan Management and Christopher Bleeker Owner Llc.
Within a 400-foot radius of 329 Bleecker Street, PincusCo identified 12 commercial real estate items of interests occurred over the past 24 months.
Of those 12 items, four were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $1.6 million, one permit with a total initial cost of $425,500.0 and one initial temporary certificate of occupancy issuance for a project that initially costed $425,500.0. The most recent of these four items was the filing on December 14, 2020 for a 2,841-square-foot R-3 building with two residential units at 327 Bleecker Street.
Of those 12 items, two were sales above $5 million totaling $13.4 million. The most recent of the two was Huey Cheng which bought the 2,672-square-foot, two-unit mixed-use building (S1) on 357 Bleecker Street for $5.7 million from R. Bruce MacGregor and Thelma K. MacGregor on May 21, 2021.
Of those 12 items, six were loans above $5 million totaling $102.3 million. The most recent of the six was Ralph Della Cava Jr. which borrowed $10.5 million from Dime Community Bank secured by the 17,603-square-foot, 34-unit rental (C7) on 42 Grove Street on April 6, 2021.

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