Icon Realty Management borrows $12M from Signature Bank for multifamily property in West Village

Icon Realty Management through the entity 199 West 10 Fee LLC as borrower signed a loan agreement with lender Signature Bank valued at $11.6 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 25 residential units at 199 West 10th Street in West Village. The deal closed on November 26, 2019 and was recorded on December 13, 2019.
The property contains a total of 19,343 square feet of built space.
The average loan per unit is $464,000.
The last time the property sold was October 30, 2017, for $17,500,000.

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 6 renovation/alteration projects (A2) applied for with a total estimated value of $1,967,295.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link