Icon Realty, Stellar borrow $17M from Bank Leumi for multifamily property in East Village

Icon Realty Management and Stellar Management through the entity 371 East 10 Realty LLC as borrower signed a loan agreement with lender Bank Leumi USA valued at $17.2 million for 1 parcel, including the tax class health center, child center, clinic (I5) at 371 East 10th Street in East Village. The deal closed on April 15, 2020 and was recorded on May 18, 2020.

The borrowers increased the debt from $12.25 million provided in 2016. The last time the property sold was August 31, 2016, for $14,400,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 22 residential units on March 9, 2020.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $2,769,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link