JD Carlisle Development adds $70M from Bank OZK for development in Nomad

JD Carlisle Development through the entity Madison 30 31 Owner LLC as borrower signed a loan agreement with lender Bank OZK valued at $70 million for 3 parcels, including the tax class multifamily, fireproof – with stores (D6) and containing 200 residential units at 15 East 30th Street, 13 East 30th Street, and 132 Madison Avenue in Nomad. The deal closed on February 3, 2021 and was recorded on February 10, 2021.
The property contains a total of 407,521 square feet of built space.
The average loan per unit is $350,000.
This is an additional $70 million in building and project loan on top of $280 million provided in 2019. The last time the property sold was November 29, 2017 for $139,524,983.
Over the past five years, there have been 9 NYC Department of Buildings permit applications 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 $475,000.0. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $317,000.

Direct link to Acris document. link