Hester Alliance Properties obtained financing of $6M from Amerasia Bank

Hester Alliance Properties,LLC as borrower signed a loan agreement with lender Amerasia Bank valued at $6.1 million for 1 parcel, including the tax class multifamily, fireproof (standard construction without stores) (D3) and containing 10 residential units at 53 Hester Street in Lower East Side. The deal closed on July 29, 2019 and was recorded on August 19, 2019.
The property contains a total of 15,376 square feet of built space.
The average loan per buildable square foot is $394.
The last time the property sold was January 23, 2013, for $3,193,775.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 10 residential (or hotel) units on February 22, 2016.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $40,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link