Shmuel Bar-Or borrows $26M from Signature Bank for property in Midtown West

Shmuel Bar-Or through the entity Broadway Sky, LLC as borrower signed a loan agreement with lender Signature Bank valued at $26.0 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 28 residential units at 1691 Broadway in Midtown West. The deal closed on October 15, 2020 and was recorded on March 4, 2021.
The property contains a total of 16,500 square feet of built space.
The average loan per unit is $928,571.

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 $45,000.

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