David Werner obtained financing of $65M from Goldman Sachs Bank

David Werner through the entity 2 Cooper Holdings LP as borrower signed a loan agreement with lender Goldman Sachs Bank USA valued at $65.0 million for 2 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 143 residential units at 2 Cooper Square, 37 East 4 Street in Noho. The deal closed on August 14, 2019 and was recorded on August 29, 2019.
The property contains a total of 128,300 square feet of built space. The property has 1,045 square feet of available development rights.
The average loan per unit is $454,545.
The last time the property sold was January 27, 2012, for $134,050,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 132 residential (or hotel) units on September 18, 2014.
Over the past five years, there have been 2 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 $10,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $115,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.