Erno Bodek obtained financing of $56M from G4 Capital Partners

Erno Bodek through the entity Erbo Properties LLC as borrower signed a loan agreement with lender G4 Capital Partners through the entity G4 18190, LLC valued at $56.0 million for 1 parcel, including the tax class fireproof warehouse (E1) at 541 West 21st Street in Chelsea. The deal closed on August 23, 2019 and was recorded on September 10, 2019.
The property contains a total of 65,307 square feet of built space.
The average loan per buildable square foot is $857.
G4 Capital assigned the debt to Axos Bank.

Over the past five years, there have been 4 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 $5,916,060. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $1,996,676.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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