Ponte Equities signs $7.5M refi loan with BankUnited for commercial condo in Tribeca

Ponte Equities through the entity Unity Environmental Corp as borrower signed a refi loan with lender BankUnited valued at $7.5 million for the commercial condo unit (OT) at 62 Beach Street in Tribeca, Manhattan.
The deal closed on June 4, 2021 and was recorded on July 15, 2021.
The property has 5,405 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $1,395 per the PincusCo analysis.
The signatory for Ponte Equities was Vincent J. Ponte.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $744,036.
Within a 400-foot radius of 62 Beach Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, three were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $1.7 million and one initial temporary certificate of occupancy issuance for a project that initially costed $1.4 million.
Of those seven items, three were sales above $5 million totaling $40.9 million. The most recent of the three was 7 Hubert, Phb LLC which bought one condo unit at 7 Hubert Street for $20.0 million from JLM Hubert St, LLC on December 23, 2020.
One of those seven items was a loan which Elizabeth McDonald borrowed $6.5 million from Modern Bank, N.A. secured by one condo unit in the 3,791-square-foot, nine-unit mixed-use building (RM) on 408 Greenwich Street and one other property on June 19, 2020.

Direct link to Acris document. link