Maverick buys $47M notes from Signature secured by Garment District assets

Maverick Real Estate Partners bought notes with the original principal of $47.1 million from Signature Bank secured by Aron Rosenberg assets in two separate transactions.

In the first, Maverick bought the $21.1 million note secured by 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 28 West 36th Street in Garment District. The deal closed on January 22, 2021 and was recorded on March 8, 2021.
The property contains a total of 58,186 square feet of built space.

PincusCo already reported this note sale when Rosenberg filed a lawsuit in New York State Supreme Court against Maverick last month.  That case has been discontinued.
Direct link to Acris document. link

In the second, Maverick bought the $26 million note secured by two parcels, including the tax class office building with commercial with seven to 19 stories (O6) at 32 West 39th Street and 36 West 39th Street in Garment District. The deal closed on January 22, 2021 and was recorded on March 8, 2021.
The property contains a total of 60,931 square feet of built space.

The last time the property sold was January 12, 2004 for $11,728,600.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $120,300.

Direct link to Acris document. link