SNL Storage obtained financing of $23M from Saperean Capital III Originator

SNL Storage through the entity SNL XVII, LLC as borrower signed a loan agreement with lender Saperean Capital III Originator, LLC valued at $23.5 million for 1 parcel, including the tax class semi-fireproof manufacturing building (F4) at 154 17 Street in Sunset Park. The deal closed on August 07, 2019 and was recorded on August 22, 2019.
The property contains a total of 16,577 square feet of built space. The property has 10,775 square feet of available development rights.
The average loan per buildable square foot is $857.
The last time the property sold was June 15, 2018, for $6,500,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 32,583 square feet. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article