Ellington Management buys $6.25M note from Dime secured by 22 units on UES

Ellington Management Group through the entity EMG Transfer Agent LLC bought a note with an original principal of $6.25 million from Dime Community Bank secured by the Curreri family’s 11-unit rental (C1) at 317 East 89th Street in Yorkville, Manhattan and 11-unit rental (C1) at 315 East 89th Street in Yorkville, Manhattan.
The deal closed on June 18, 2021 and was recorded on August 25, 2021.
The two properties have 16,440 square feet of built space and 3,726 square feet of additional air rights for a total buildable of 20,144 square feet according to PincusCo analysis of city data.
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. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $14,000.
The owners according to the Department of Housing Preservation and Development includes Domenica Curreri, head officer and Alvin Glick, agent. The business entities are Mautner-Glick Corp. and John V Third Realty Corp.

Within a 400-foot radius of 315 East 89th Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.
Of those two items, one was in new building development. It was a new building permit application filed on September 13, 2019 for a 89,547-square-foot R-2 building with 41 residential units at 1695 2nd Avenue.
One of those two items was a loan which Salvatore Vona borrowed $6.5 million from Apple Bank For Savings secured by the 16,700-square-foot, 20-unit rental (C7) on 1728 2nd Avenue and one other property on May 12, 2020.

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