Robert Malta borrows $51M from Signature Bank for rental portfolio in Manhattan

Robert Malta through the entity 106-108 West 73rd Street Associates LLC as borrower signed a loan agreement with lender Signature Bank valued at $51.1 million for 7 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 78 residential units at 202 8th Avenue, 635 9th Avenue, 106 West 73rd Street, 110 West 73rd Street, 169 9th Avenue, and others in Chelsea. The deal closed on July 28, 2020 and was recorded on September 17, 2020.
The property has 110,440 square feet of built space and available development rights.
The average loan per unit is $655,128.
The financing includes a $4.99 million gap loan.

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