SDG Management refinances $48.8M with Signature Bank in Manhattan

SDG Management refinanced $48.8 million with Signature Bank in four transactions covering seven properties in Manhattan.

In the first, SDG Management through the entity 141 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 6 residential units at 3461 Broadway in Hamilton Heights. The deal closed on June 4, 2020 and was recorded on June 10, 2020.
The property contains a total of 47,526 square feet of built space. The property has 60,116 square feet of available development rights.
The average loan per buildable square foot is $234.
The tenant in common owners are identified as Stuart D. Goldstein, Darin S> Goldstain and Edward M. Fox.

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 $406,065.
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 138 Broadway Associates, L.L.C as borrower signed a loan agreement with lender Signature Bank valued at $13.2 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 33 residential units at 3393 Broadway in Hamilton Heights. The deal closed on June 4, 2020 and was recorded on June 10, 2020.
The property contains a total of 46,716 square feet of built space. The property has 60,216 square feet of available development rights.
The average loan per unit is $401,177.
The tenant in common owners are identified as Stuart D. Goldstein, Darin S> Goldstain and Edward M. Fox.

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 $604,635.
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 191 Realty Associates, L.P. as borrower signed a loan agreement with lender Signature Bank valued at $11.0 million for 4 parcels, including the tax class multifamily, over six families without stores (C1) and containing 135 residential units at 603 West 191st Street, 559 West 191st Street, 563 West 191st Street, 569 West 191st Street in Washington Heights. The deal closed on June 4, 2020 and was recorded on June 10, 2020.
The property contains a total of 36,162 square feet of built space.
The average loan per unit is $81,481.

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 $161,350.
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 137 Broadway Associates, L.L.C. as borrower signed a loan agreement with lender Signature Bank valued at $10.5 million for 1 parcel, including the tax class multifamily, semi-fireproof with stores (D7) and containing 40 residential units at 602 West 137th Street in Hamilton Heights. The deal closed on June 4, 2020 and was recorded on June 10, 2020.
The property contains a total of 59,316 square feet of built space. The property has 75,178 square feet of available development rights.
The average loan per unit is $262,500.

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 $844,165.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link