Magnum Real Estate Group borrows $26M from Labini Investments for property in Lower East Side

Magnum Real Estate Group through the entity Mb-Reec Houston Property Owner LLC as borrower signed a loan agreement with lender Labini Investments Limited valued at $26.3 million for 38 parcels, including the tax class residential condo in Acris (SC) and containing 38 residential units and three commercial units at 196 Orchard Street on the Lower East Side. The deal closed on October 7, 2019 and was recorded on October 18, 2019. The prior debt was held by SL Green and assigned to Cyprus-based Labini.

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