Sabet Group borrows $7M from Signature Bank for acquisition of multifamily property in West Village

Alfred Sabetfard’s Sabet Group through the entity 220 W 13 Street LLC as borrower signed a loan agreement with lender Signature Bank valued at $6.9 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 22 residential units at 220 West 13th Street in West Village. The deal closed on January 16, 2020 and was recorded on January 31, 2020.
The property contains a total of 13,662 square feet of built space.
The average loan per unit is $311,364.
The prior owners had borrowed $1.06 million from Dime Savings Bank of Williamsburgh.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $154,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link