Meyer Teichman borrows $7.4M from Signature Bank for rehabbed commercial in East Williamsburg

Meyer Teichman through the entity 199 Cook Street Associates, LLC as borrower signed a loan agreement with lender Signature Bank valued at $7.4 million for 1 parcel, including the tax class fireproof warehouse (E1) at 199 Cook Street in East Williamsburg. The deal closed on August 25, 2020 and was recorded on August 31, 2020. Eric Mann of the Mann Group was identified as the owner in Department of Buildings filings in 2015.
The property contains a total of 25,875 square feet of built space.
The average loan per buildable square foot is $284.
The last time the property sold was June 14, 2013, for $6,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 15, 2018.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $3,255,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $2,162,995.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link