David Brown borrows $14M from Popular Bank for property in Soho

David Brown through the entity 483 Broadway Realty Corp. as borrower signed a loan agreement with lender Popular Bank valued at $13.8 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 483 Broadway in Soho. The deal closed on April 30, 2020 and was recorded on May 4, 2020.
The property contains a total of 51,790 square feet of built space. The property has 52,102 square feet of available development rights.
The average loan per buildable square foot is $264.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on October 15, 2019.
Over the past five years, there have been 16 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $165,000. There were 15 renovation/alteration projects (A2) applied for with a total estimated value of $1,784,432.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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