Highwater Capital Group borrows $17.7M from G4 Capital Partners for construction in Gramercy

Highwater Capital Group through the entity Gramercy 1860 LLC as borrower signed a loan agreement with lender G4 Capital Partners through the entity G4 18196, LLC valued at $17.7 million for 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 327 East 22nd Street in Gramercy. The deal closed on November 29, 2019 and was recorded on December 20, 2019.

The last time the property sold was August 30, 2017, for $12,000,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications 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 $48,000.There has been one new building permit application totaling 19,747 square feet. Those plans include a total of 9 residential or hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link