Mann Group refis $19.5M with Ladder Capital for property in Greenpoint

Eric Mann’s Mann Group through the entity 574 Manhattan Ave Owner, LLC as borrower signed a loan agreement with lender Ladder Capital Finance LLC valued at $19.5 million for 7 parcels, including the tax class primarily two family with store or office (S2) and containing 33 residential units at 595 Manhattan Avenue, 593 Manhattan Avenue, 591 Manhattan Avenue, 574 Manhattan Avenue, 592 Manhattan Avenue, and others in Greenpoint. The deal closed on March 26, 2021 and was recorded on April 19, 2021.
The property has 30,918 square feet of built space and available development rights.
The average loan per unit is $590,909.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

Direct link to Acris document. link