SDG Management borrows $138M from Signature Bank for 14 properties in Manhattan

Darin S. Goldstein’s SDG Management borrowed $138 million from Signature Bank for 14 properties in Manhattan in 10 separate transactions.

In the largest, SDG Management through the entity 207 Sherman Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $40.0 million for 5 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 297 residential units at 189 Sherman Avenue, 201 Sherman Avenue, 213 Sherman Avenue, 530 West 207th Street, 512 West 207th Street in Inwood. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property has 381,238 square feet of built and available development rights.
The average loan per unit is $134,680.
Darin S. Goldstein was the signatory.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $218,905.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the second largest, SDG Management through the entity Ten Sheridan Associates, LLC as borrower signed a loan agreement with lender Signature Bank valued at $36.3 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 74 residential units at 80 Grove Street in West Village. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 47,808 square feet of built space.
The average loan per unit is $490,437.
The last time the property sold was January 18, 2017, for $12,576,516.

Over the past five years, there have been 13 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $200,475. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $493,050.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the third largest, SDG Management through the entity 173 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $9.5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 57 residential units at 4087 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 64,896 square feet of built space. The property has 83,291 square feet of available development rights.
The average loan per unit is $166,667.

Over the past five years, there have been 8 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $708,660.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the fourth largest, SDG Management through the entity 156 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $8.5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 70 residential units at 3761 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 70,356 square feet of built space. The property has 92,292 square feet of available development rights.
The average loan per unit is $121,429.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $42,220. Those filings sought to increase the number of residential units by 2 to 73 There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $755,635.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the fifth largest, SDG Management through the entity 142 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $8.5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 33 residential units at 3471 Broadway in Hamilton Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 48,979 square feet of built space. The property has 60,170 square feet of available development rights.
The average loan per unit is $257,576.

Over the past five years, there have been 13 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 13 renovation/alteration projects (A2) applied for with a total estimated value of $687,045.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the sixth largest, SDG Management through the entity 66 Fort Washington Associates LLC as borrower signed a loan agreement with lender Signature Bank valued at $8.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 45 residential units at 66 Ft Washington Avenue in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 68,178 square feet of built space. The property has 93,294 square feet of available development rights.
The average loan per unit is $186,371.
The last time the property sold was November 22, 2016, for $18,000,000.

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 $231,205.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the seventh largest, SDG Management through the entity 145 Vermilyea Associates, L.P. as borrower signed a loan agreement with lender Signature Bank valued at $7.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 32 residential units at 145 Vermilyea Avenue in Inwood. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 39,050 square feet of built space.
The average loan per unit is $234,375.

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 $104,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the eighth largest, SDG Management through the entity 541-7 West 180 Associates, L.P. as borrower signed a loan agreement with lender Signature Bank valued at $7.4 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 60 residential units at 300 Audubon Avenue in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 38,265 square feet of built space.
The average loan per unit is $122,500.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $220,750.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the ninth largest, SDG Management through the entity 164 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $7.2 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 42 residential units at 3920 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 45,312 square feet of built space. The property has 60,212 square feet of available development rights.
The average loan per unit is $172,024.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $219,712.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the tenth largest, SDG Management through the entity 1570 St Nick Assiciates, L.P. as borrower signed a loan agreement with lender Signature Bank valued at $5.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 33 residential units at 1570 St Nicholas Avenue in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 9, 2020.
The property contains a total of 45,000 square feet of built space.
The average loan per unit is $151,515.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $274,125.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link