Mehrdad Sharifian borrows $16.7M from New York Community for multifamily in Manhattan

Mehrdad Sharifian borrowed $16.7 million from New York Community Bank against two multifamily buildings in Manhattan through two transactions.

In the first, Mehrdad Sharifian through the entity Tzadik Enterprises, LLC as borrower signed a loan agreement with lender New York Community Bank valued at $8.8 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 27 residential units at 520 East 11th Street in East Village. The deal closed on July 21, 2020 and was recorded on August 3, 2020.
The property contains a total of 13,476 square feet of built space.
The average loan per unit is $324,074.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $30,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second, Mehrdad Sharifian through the entity Six Mon LLC as borrower signed a loan agreement with lender New York Community Bank valued at $7.9 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 20 residential units at 126 Mac Dougal Street in West Village. The deal closed on July 21, 2020 and was recorded on August 3, 2020.
The property contains a total of 12,150 square feet of built space.
The average loan per unit is $396,800.
The last time the property sold was June 29, 2011, for $5,650,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $114,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link