Slate Property Group and Alcion Ventures borrow $67M from Chicago-based Heitman Capital for property in East Village

Slate Property Group and Alcion Ventures through the entity 60 East 12th Owner, LLC as borrower signed a loan agreement with lender Chicago-based Heitman Capital Management through the entity Heitman Credit Acquisition VII, LLC valued at $67.0 million for a building containing 133 residential units at 60 East 12th Street in East Village. The deal closed on August 15, 2019 and was recorded on September 20, 2019.
The property contains a total of 124,630 square feet of built space and is the tax class multifamily, semi-fireproof with stores (D7).
The average loan per unit is $503,759.
The last time at least a portion of the property sold was May 3, 2016, for $35,000,000, according to city records.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 134 residential units on September 19, 2012.
Over the past five years, there have been 10 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $3,739,540.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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