Noah Osnos borrows $25M from Kearny Bank for multifamily property in Gramercy

Noah Osnos through the entity New 1804 Wash Corp. as borrower signed a loan agreement with lender Kearny Bank valued at $25.0 million for 9 parcels, including the tax class two-family, brick (B1) and containing 63 residential units at 47 Irving Place, 49 Irving Place, 120 East 17th Street, 118 East 17th Street, 112 East 17th Street, and others in Gramercy. The deal closed on March 30, 2020 and was recorded on June 22, 2020.
The property has 88,185 square feet of built space and available development rights.
The average loan per unit is $396,825.
The financing includes $3.8 million in new debt. The last time the property sold was December 19, 2012, for $23,581,250.

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