Mark Kalimian signs $48M refi with Apple Bank for Manhattan rentals

Mark D. Kalimian signed two loans totaling $48 million with Apple Bank for Savings for rental buildings in Nolita and Flatiron District in two separate transactions.

In the first, Mark D. Kalimian through the entity Almark Holding Co. LLC as borrower signed a refi loan with lender Apple Bank for Savings valued at $30.8 million for the 162-unit rental (D7) at 65 East Houston Street in Nolita, Manhattan.
The deal closed on December 9, 2021 and was recorded on December 20, 2021.
The property has 92,088 square feet of built space and 27,921 square feet of additional air rights for a total buildable of 119,981 square feet according to PincusCo analysis of city data. The loan price per built square foot is $333 and the price per buildable square foot is $256 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Mark D. Kalimian was Mark D. Kalimian. The signatory for Apple Bank for Savings was Cynthia Wang.

The prior debt was $33 million.
The owners according to the Department of Housing Preservation and Development includes Mark Kalimian, head officer and Linda Berley, shareholder. The business entity is Almark Holding Co. Llc.

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In the second, Mark D. Kalimian through the entity Almark Holding Co. LLC as borrower signed a refi loan with lender Apple Bank for Savings valued at $17.3 million for the 86-unit rental (D7) at 12 East 22nd Street in Flatiron District, Manhattan.
The deal closed on December 9, 2021 and was recorded on December 20, 2021.
The property has 78,646 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $219 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Mark D. Kalimian was Mark D. Kalimian. The signatory for Apple Bank for Savings was Cynthia Wang.
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.
The owners according to the Department of Housing Preservation and Development includes Alexander Berley, head officer and Larry Dimech, site manager. The business entity is Almark Holding Co. Llc.
Within a 400-foot radius of 12 East 22nd Street, Pincusco identified 14 commercial real estate items of interests occurred over the past 24 months.

Direct link to Acris document. link

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