SDG Management modifies $78M in Upper Manhattan, bringing refi total to nearly $300M

SDG Management modified and extended the debt valued at $78.4 million from Signature Bank through six transactions and eight properties with a total of 331 residential units in Upper Manhattan.

SDG, with signatory Darin Goldstein, has modified and extended approximately $298 million over the past month, according to an analysis by PincusCo Media.

In the largest of the recent transactions, SDG Management through the entity 188 St Nick Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $17 million for 3 parcels, including the tax class multifamily, more than six families with stores (C7) and containing 91 residential units at 1571 St Nicholas Avenue, 1561 St Nicholas Avenue, 1340 St Nicholas Avenue in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 38,380 square feet of built space.
The average loan per unit is $186,813.

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

In the second, SDG Management through the entity 163 Broadway Associates, L.L.C as borrower signed a loan agreement with lender Signature Bank valued at $14.4 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 64 residential units at 3901 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 58,269 square feet of built space.
The average loan per unit is $224,616.

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 $247,385.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the third, SDG Management through the entity 180 Broadway Associates, L.L.C as borrower signed a loan agreement with lender Signature Bank valued at $11.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 37 residential units at 4232 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 60,123 square feet of built space.
The average loan per unit is $297,297.

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 $1,082,155.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the fourth, SDG Management through the entity 175 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $11.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 57 residential units at 4133 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 77,877 square feet of built space. The property has 90,327 square feet of available development rights.
The average loan per unit is $192,982.

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 $714,300.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the fifth, SDG Management through the entity 150 Broadway Assocates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $11.0 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 43 residential units at 3631 Broadway in Hamilton Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 57,612 square feet of built space. The property has 75,223 square feet of available development rights.
The average loan per unit is $255,814.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 46 residential (or hotel) units on July 27, 2016.
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. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $516,848.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

In the sixth, SDG Management through the entity 3868 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $14.1 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 39 residential units at 3868 Broadway in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 12, 2020.
The property contains a total of 45,023 square feet of built space. The property has 60,111 square feet of available development rights.
The average loan per unit is $205,128.

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 $317,795.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link