SDG Management borrows $9.5M from Signature Bank for multifamily property in Washington Heights

SDG Management through the entity 176 St Nicholas 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 48 residential units at 601 West 176th Street in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 19, 2020.
The property contains a total of 52,788 square feet of built space.
The average loan per unit is $197,917.
SGD has modified more than $300 million in recent weeks.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $346,998.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link