RoundSquare signs $12.5M construction loan with Maxim Capital in West Village

RoundSquare Development through the entity 107 Th LLC as borrower signed a construction loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $12.5 million for the three-unit three-family building (C0) at 107 Bank Street in West Village, Manhattan.
The deal closed on September 30, 2021 and was recorded on November 18, 2021.
The property has 4,190 square feet of built space and 180 square feet of additional air rights for a total buildable of 4,374 square feet according to PincusCo analysis of city data. The loan price per built square foot is $2,983 and the price per buildable square foot is $2,857 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The owner bought the property on September 30, 2021, for $9.3 million.
The signatory for RoundSquare Development was Robert Kaliner.

Fleet National Bank was acquired by Bank of America.

Within a 400-foot radius of 107 Bank Street, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months.
Of those seven items, three were sales above $5 million totaling $54.5 million. The most recent of the three was 727 Washington NYC LLC which bought the 10,935-square-foot, one-unit townhouse (A4) on 727 Washington Street for $27.3 million from Anthony Davis on August 25, 2021.
Of those seven items, four were loans above $5 million totaling $66.3 million. The most recent of the four was Joseph Jackson which borrowed $6.5 million from Arbor Realty Trust secured by the 9,620-square-foot, 20-unit rental (C4) on 117 Bank Street and two other properties on November 5, 2021.

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