Slate Property Group borrows $16M from M&T Bank for multifamily property in West Village

Slate Property Group through the entity SPG W 10th Street Investors LLC as borrower signed a loan agreement with lender M&T Bank valued at $16 million for 1 parcel, including the tax class multifamily, more than six families with stores (C7) and containing 33 residential units at 236 West 10th Street in West Village. The deal closed on November 13, 2019 and was recorded on December 13, 2019.
The property contains a total of 20,073 square feet of built space.
The average loan per unit is $484,848.
The last time the property sold was August 10, 2017, for $21,000,000.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $1,433,910.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link