Maverick buys $5.8M note secured by 14-unit Nolita rental from BankUnited

Maverick Real Estate Partners through the entity Prince St Mixed Use LLC bought a note with an original principal of $5.75 million from BankUnited secured by David Zahabian and Cheryl Sorrentino’s 14-unit rental (C7) at 27 Prince Street in Nolita, Manhattan.
The deal closed on April 23, 2021 and was recorded on May 3, 2021.
The property has 8,615 square feet of built space and 5,398 square feet of additional air rights for a total buildable of 14,008 square feet according to PincusCo analysis of city data.
The owner bought the property on 2-Dec-11, for $5.9 million.
Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $23,000.
The owners according to the Department of Housing Preservation and Development includes David Zahabian, head officer and Cheryl Sorrentino, shareholder. The business entity is 27 Prince Street Llc.

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