Samco Properties borrows $15M from Apple Bank for offoce property in Nomad

Joshua Smith’s Samco Properties through the entity 432 Park South Realty Co., LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $15 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 424 Park Avenue South in Nomad. The deal closed on March 3, 2020 and was recorded on March 10, 2020.
The property contains a total of 126,784 square feet of built space.
The average loan per buildable square foot is $118.

Over the past five years, there have been 16 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 16 renovation/alteration projects (A2) applied for with a total estimated value of $2,629,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link