Manatus Development signs $38M refi with Barclays in Mott Haven

Manatus Development Group through the entity Csb Courtlandt LLC as borrower signed a refi loan with lender Barclays Capital through the entity Barclays Capital Real Estate Inc. valued at $38 million for three properties including the office building (O2) at 362 Courtlandt Avenue in Mott Haven, Bronx.
The deal closed on July 22, 2021 and was recorded on August 10, 2021.
(210177823) Plans for a 56,411 square-foot B were filed on February 6, 2018.

The signatory for Manatus Development Group was Justin Stern.

The financing added $14 million in a gap loan and replaced a 2019 construction loan from TD Bank.

Within a 400-foot radius of 362 Courtlandt Avenue, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was an initial temporary certificate of occupancy issued on September 28, 2020 for the $2.7 million renovation of 33,238-square-foot B building with no residential units at 524 Courtlandt Avenue.

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