Rialto Capital Advisors buys $12.5M note secured by East Village retail condo

Rialto Capital Advisors through the entity RSS WFRBS2013-C14 – NN 8ba, LLC bought a note with an original principal of $12.5 million from Wells Fargo WFRBS 2013-C14 secured by Marc P. Beige’s retail condo (CC) at 808 Broadway in the East Village, Manhattan.
The deal closed on April 2, 2021 and was recorded on May 13, 2021.
The property has 21,633 square feet of built space according to PincusCo analysis of city data.
Beige bought the property on 27-Jul-17, for $24.6 million.
(121753762)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 68 residential units on June 2, 2015.
The commercial unit is owned by Marc P. Beige, who bought it in 2017 for $24.6 million. Rialto has been an active note buyer, including acquiring $18.5 million debt in Chelsea.

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