McSam Hotel Group obtained financing of $14M from Parke Bank

McSam Hotel Group through the entity Chtn Hotel LLC as borrower signed a loan agreement with lender Parke Bank valued at $14.1 million for 1 parcel, including the tax class garage with two or more stories (G1) at 62 Mulberry Street in Chinatown. The deal closed on July 24, 2019 and was recorded on July 31, 2019.
The property contains a total of 34,800 square feet of built space.
The average loan per buildable square foot is $404.
The last time the property sold was July 26, 2004, for $1,906,740.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $75,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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