Ranjana Mehta borrows $5M from Santander Bank for purchase of multifamily property in Chinatown

Ranjana Mehta through the entity 73 Shanthi LLC as borrower signed a loan agreement with lender Santander Bank through the entity Santander Bank valued at $5.4 million for the purchase of 1 parcel, including the tax class multifamily, old law tenements (C4) and containing 16 residential units at 73 Monroe Street in Chinatown. The deal closed on April 14, 2020 and was recorded on May 4, 2020.
The property contains a total of 9,660 square feet of built space. The property has 12,510 square feet of available development rights.
The average loan per unit is $334,375.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $1,466,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link