Joseph Tabak’s Princeton Holdings borrows $8M from Sterling National Bank for property in Lower East Side

Joseph Tabak’s Princeton Holdings through the entity 137 Ludlow Holdings LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $8.4 million for 1 parcel, including the tax class retail building with apartments above (K4) at 137 Ludlow Street in Lower East Side. The deal closed on September 26, 2019 and was recorded on October 15, 2019.
The property contains a total of 9,777 square feet of built space.
The average loan per buildable square foot is $859.
The last time the property sold was March 24, 2015, for $7,900,000.

Over the past five years, there have been 2 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 $1,324,831. There was one renovation/alteration project (A2) applied for with a total estimated value of $150,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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