Miriam Sharifian signs $8.6M refi with Morgan Stanley for 27-unit walkup in East Village
Miriam Sharifian through the entity Tzadik LLC as borrower signed a refi loan with lender Morgan Stanley through the entity Morgan Stanley Bank valued at $8.6 million for the 27-unit residential walkup building (C7) at 520 East 11th Street in the East Village, Manhattan.
The deal closed on September 19, 2025 and was recorded on October 6, 2025. The prior lender was Flagstar Bank which held debt that had an original loan amount of $8.8 million.The property has 13,476 square feet of built space and 746 square feet of additional air rights for a total buildable of 14,212 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $638 and the price per buildable square foot is $605 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 owner bought the property on February 13, 2006, for $4.2 million. The signatory for Miriam Sharifian was Miriam Sharifian. The signatory for Morgan Stanley was Cynthia Eckes .
Prior sales and revenue
The 13,476-square-foot property generated revenue of $1.2 million or $88 per square foot, according to the most recent income and expense figures.
The property
The residential walkup building with 27 residential units in East Village has 13,476 square feet of built space and 746 square feet of additional air rights for a total buildable of 14,212 square feet according to a PincusCo analysis of city data. The parcel has frontage of 37 feet and is 94 feet deep with a total lot size of 3,553 square feet. The zoning is R8B which allows for up to 4 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $6.7 million. New York Community Bank on July 21, 2020 bought a loan with an original principal of 8750000.0 from Flagstar Bank signed by Miriam Sharifian, secured by 520 East 11th Street, when owned by Miriam Sharifian. The property has 5 rent regulated units according to city tax records from 2023.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received $150 in OATH penalties in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The block
On this tax block, PincusCo has identified the owners of 23 of the 37 commercial properties representing 201,708 square feet of the 312,518 square feet. The largest owner is DSA Management, followed by Kushner Companies and then Croman Real Estate.
There are no active new building construction projects on this tax block.
The majority, or 84 percent of the 312,518 square feet of built space are walkup buildings, with mixed-use buildings next occupying 11 percent of the space.
The borrower
The PincusCo database currently indicates that Miriam Sharifian owned at least five commercial properties with 103 residential units in New York City with 78,429 square feet and a city-determined market value of $29.1 million. (Market value is typically about 50% of actual value.) The portfolio has $24.9 million in debt, borrowed from Morgan Stanley and Walker & Dunlop. Within the portfolio, the bulk, or 61 percent of the 78,429 square feet of built space are walkup properties, with elevator properties next occupying 39 percent of the space. They are all located in Manhattan.
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