RFR Holding borrows $47M from Israel Discount Bank for office property in Nolita

Aby Rosen’s RFR Holding through the entity 190 Bowery Owner LLC as borrower signed a loan agreement with lender Israel Discount Bank Of New York valued at $47.3 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 190 Bowery in Nolita. The deal closed on November 26, 2019 and was recorded on December 3, 2019.
The property contains a total of 36,000 square feet of built space.
The average loan per buildable square foot is $1,313.
The last time the property sold was January 21, 2015, for $55,000,000. At the time, RFR borrowed $50 million from Citibank which was assigned to Blackstone Mortgage Trust.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on April 29, 2019.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $2,365,300. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $5,219,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link