Elliot Neumann of Acuity Capital as signatory borrows $324M from Cantor, KeyBank for 34-parcel portfolio

Elliot Neumann of Acuity Capital Partners as signatory through the entity 61 West 106 LLC (and others) as borrower signed a loan agreement with lender Cantor Commercial Real Estate Lending and KeyBank through the entity Cantor Commercial Real Estate Lending, L.P. valued at $324 million for 34 parcels, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 1,112 residential units at 884 West End Avenue, 337 West 43rd Street, 61 West 106th Street, 333 West 43rd Street, 331 West 43rd Street, and others in the Manhattan and Brooklyn. The deal closed on February 13, 2020 and was recorded on March 9, 2020.
The property has 1,446,269 square feet of available development rights.
The average loan per unit is $291,367.
The loan package includes a $36 million gap mortgage.

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 $573,965.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link