Raymond Chera borrows $11M from Starwood Mortgage Capital for multifamily property in Lower East Side

Raymond Chera through the entity 101 Stanton Street, LLC as borrower signed a loan agreement with lender Starwood Mortgage Capital LLC valued at $11.3 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 15 residential units at 101 Stanton Street in Lower East Side. The deal closed on January 6, 2020 and was recorded on January 15, 2020.
The property contains a total of 12,168 square feet of built space.
The average loan per unit is $751,333.
The last time the property sold was June 8, 2017, for $12,900,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $443,600.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link