Slate refis resi commercial condo unit with $35M from Sterling National Bank in East Village

Slate Property Group through the entity 47 Third Residential Investors LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $34.6 million for 1 parcel, including the tax class commercial condo recorded in Acris (CC) and containing 28 residential units at 47 Third Avenue in East Village. The deal closed on September 30, 2020 and was recorded on October 27, 2020.

The refi pays off an April 2019 loan that had the signatory from the lender Jon Singer and totaled $31.5 million and added a $3.1 million gap loan. The last time the property sold was November 14, 2014, for $25,900,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 58 residential (or hotel) units on June 25, 2019.

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

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