S.W. Management obtained financing of $5M from Signature Bank

S.W. Management through the entity 1573 York Realty LLC as borrower signed a loan agreement with lender Signature Bank valued at $5.4 million for 2 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 16 residential units at 1573 York Avenue, 1575 York Avenue in Yorkville. The deal closed on August 13, 2019 and was recorded on August 29, 2019.
The property contains a total of 7,900 square feet of built space. The property has 23,700 square feet of available development rights.
The average loan per unit is $334,375.
The last time the property sold was July 17, 2014, for $5,450,000.

Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $118,097.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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