Eric Goode borrows $15M from Wells Fargo against CBSK Development’s parcel in Noho

358 Bowery (Credit: Google)

Eric Goode through the entity Fourth Street Realty Holding LLC as borrower signed a loan agreement with lender Wells Fargo Bank valued at $15 million for 1 parcel, including the tax class one-story store building (K1) at 358 Bowery in Noho. The deal closed on October 30, 2019 and was recorded on November 6, 2019.
The property contains a total of 5,072 square feet of built space. The property has 38,476 square feet of available development rights plus additional acquired air rights.
The average loan per buildable square foot is $344.
Eric Goode, the property owner, is operating the B Bar & Grill on the site, but on September 12 he signed a 99-year ground lease with the firm CBSK Development, a partnership between Charles Blaichman’s CB Developers and Abram and Scott Shnay’s SK Development. Rent payments started in September at $125,000 per month. The developers have not publicly disclosed any plans, but some industry professionals expect it to be an office project.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 31, 2012.

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

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