Joseph Betesh borrows $5M from Signature Bank for mixed-use property in Nolita

Joseph Betesh through the entity Bowery 262 LLC as borrower signed a loan agreement with lender Signature Bank valued at $5.2 million for 1 parcel, including the tax class loft with retail stores (L8) and containing 4 residential units at 262 Bowery in Nolita. The deal closed on May 11, 2020 and was recorded on May 21, 2020.
The property contains a total of 14,291 square feet of built space.
The average loan per buildable square foot is $366.
The last time the property sold was June 3, 2013, for $5,299,145.

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 $474,258.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link