Kushner Companies borrows $33M from Bank Of America for property in Nolita

Kushner Companies through the entity 285 Lafayette Retail Owner LLC as borrower signed a loan agreement with lender Bank Of America valued at $32.7 million for 1 parcel, including the tax class commercial condominium unit (R5) at 285 Lafayette Street in Nolita. The deal closed on October 16, 2019 and was recorded on October 22, 2019.
The property contains a total of 32,135 square feet of built space.
The average loan per square foot is $1,018.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 30 residential units on May 12, 2017. This loan only covers the commercial condo.

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