Shorewood Real Estate Group borrows $21M from Bayview Commercial Mortgage Finance for property in Morningside Heights

S. Lawrence Davis’s Shorewood Real Estate Group through the entity Sdsdr111 LLC as borrower signed a loan agreement with lender Bayview Commercial Mortgage Finance, LLC valued at $21.0 million for 1 parcel, including the tax class commercial condominium unit (R5) at 545 West 111th Street in Morningside Heights. The deal closed on October 30, 2019 and was recorded on November 6, 2019.
The property contains a total of 7,621 square feet of built space.
The average loan per buildable square foot is $2,756.
The last time the property sold was June 29, 2006, for $15,655,555.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 122 residential (or hotel) units on July 22, 2016.

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

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