Meadow Partners signs $26M refi with Sterling National for two rentals in Greenwich Village

Meadow Partners through the entity 103-105 MacDougal Street LLC as borrower signed a refi loan with lender Sterling National Bank valued at $26 million for two rentals including the 36-unit rental (C7) at 105 MacDougal Street in Greenwich Village, Manhattan and 36-unit rental (C7) at 103 MacDougal Street in Greenwich Village, Manhattan.
The deal closed on August 24, 2021 and was recorded on September 20, 2021.
The two properties have 39,648 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $655 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 Meadow Partners was Jeffrey Kaplan.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $293,180.
Jeff Kaplan is Founder, Managing Partner and Chairman of the Investment Committee of Meadow Partners.

The owners according to the Department of Housing Preservation and Development includes David Lloyd, head officer and Daniel Kirzner, agent. The business entity is 103-105 Macdougal Street Llc.

Within a 400-foot radius of 105 Mac Dougal Street, Pincusco identified five commercial real estate items of interests occurred over the past 24 months.
One of those five items was a sale which Yevgeniy Yermakov bought one condo unit in the  25-unit mixed-use building (RM) on 1 Minetta Street for $10 million from Infinity Real Estate on May 14, 2020.
Of those five items, four were loans above $5 million totaling $60.6 million. The most recent of the four was Mehrdad Sharifian which borrowed $7.9 million from New York Community Bank secured by the 12,150-square-foot, 22-unit rental (C7) on 126 MacDougal Street on August 3, 2020.

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