Forkosh signs $56.5M refi with Sovcombank for condo in Kips Bay

Forkosh Development Group through the entity 157-161 East 28th Street LLC as borrower signed a refi loan with lender Sovcombank through the entity Sovcombank valued at $56.5 million for the 43-unit condo project at 161 East 28th Street in Kips Bay, Manhattan.
The deal closed on May 21, 2021 and was recorded on June 3, 2021.
The properties have 66,125-square-foot project. The loan price per built square foot is $854 per the PincusCo analysis.
The signatory for Forkosh Development Group was Alex Forkosh.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $7,500.
This is a refi from a previous project loan.
There was a condominium project filed with the address 159 East 28 Street and the name Hillrose 28 Condominium on June 3, 2019. The principals of the sponsor, 157-161 East 28th Street Llc, was Alex Forkosh. link

Direct link to Acris document. link