Hilson Management borrows $18M from Signature Bank for property in Lower East Side

Hilson Management through the entity 155 Les LLC as borrower signed a loan agreement with lender Signature Bank valued at $18.0 million for 1 parcel, including the tax class multifamily, semi-fireproof (without stores) (D1) and containing 37 residential units at 155 Attorney Street in Lower East Side. The deal closed on July 21, 2020 and was recorded on July 27, 2020.
The property contains a total of 31,455 square feet of built space.
The average loan per unit is $486,486.
Jeremy Schwalbe was the signatory for Hilson. The financing includes a $4.6 million gap loan. The last time the property sold was March 23, 2018, for $37,400,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 37 residential units on March 10, 2017.

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