Peter Davis borrows $13M from John Hancock for multifamily property in East Village

Peter Davis through the entity Capri Apartments, LLC as borrower signed a loan agreement with lender John Hancock Life Insurance Company (U.S.A.) valued at $13 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 68 residential units at 232 East 12th Street in East Village. The deal closed on March 4, 2020 and was recorded on March 5, 2020.
The property contains a total of 65,602 square feet of built space.
The average loan per unit is $191,176.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 68 residential units on December 18, 2014.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link