Slate Property Group borrows $16M from Bank Leumi for multifamily property in East Village

Slate Property Group through the entity 632-634 East 11th Street Owner LLC as borrower signed a loan agreement with lender Bank Leumi through the entity Bank Leumi valued at $15.5 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 33 residential units at 632 East 11th Street in East Village. The deal closed on March 20, 2020 and was recorded on April 24, 2020.
The property contains a total of 19,980 square feet of built space.
The average loan per unit is $469,697.
The last time the property sold was December 5, 2018, for $17,250,000.

Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $2,094,540.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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