Michael Alvandi’s City Urban Realty borrows $10M from Signature Bank for property in Vinegar Hill

Michael Alvandi’s City Urban Realty through the entity Water Street Ventures LLC as borrower signed a loan agreement with lender Signature Bank valued at $9.6 million for 1 parcel, including the tax class multifamily, luxury type (D8) and containing 26 residential units at 254 Water Street in Vinegar Hill. The deal closed on September 19, 2019 and was recorded on October 9, 2019.
The property contains a total of 28,358 square feet of built space.
The average loan per unit is $369,231.

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Direct link to the city’s interactive property map, ZOLA. link

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