Prana Investments obtained financing of $12M from Signature Bank

Prana Investments through the entity 601 West 180Th St. NYC, LLC as borrower signed a loan agreement with lender Signature Bank valued at $12.2 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 33 residential units at 1401 St Nicholas Avenue in Washington Heights. The deal closed on July 25, 2019 and was recorded on July 30, 2019.
The property contains a total of 46,290 square feet of built space.
The average loan per unit is $369,697.
The last time the property sold was December 19, 2006, for $19,425,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $159,750.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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