Kalimian family borrows $22M from Citigroup for 120-unit rental in Kips Bay

Members of the Kalimian family through the entity AK 340 East 29th LLC (and others) as borrower signed a loan agreement with lender Citigroup through the entity Citibank valued at $22 million for 1 parcel, including the tax class multifamily, luxury type (D8) and containing 120 residential units at 339 East 28th Street in Kips Bay. The deal closed on October 30, 2020 and was recorded on November 13, 2020.
The property contains a total of 110,139 square feet of built space.
The average loan per unit is $183,333.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $752,314.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link