Michael Pomeranc signs $64.3M loan modification for office building in Lower East Side

Landlord Michael Pomeranc through the entity Allen Fee Owner LLC as borrower signed a refi loan with lender Areit 2019-Cre3 Trust valued at $64.3 million for the office building (CC) at 190 Allen Street in Lower East Side, Manhattan.
The deal closed on April 19, 2021 and was recorded on April 30, 2021.
The property has 98,739 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $650 per the PincusCo analysis.
The signatory for Michael Pomeranc was Michael Pomeranc. The signatory for AREIT 2019-CRE3 TRUST was Bruce Rickert and Andrew Hundertmark.
(104035928)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on August 9, 2012.
This is a loan modification that increased the secured debt from $62 million by $2.275 million. According to the loan, “Lender has agreed to defer certain payments due and payable under the Note and Loan Agreement in an amount equal to $2,275,921.”

Direct link to Acris document. link