Squire Investments borrows $27M from City National Bank for property in Soho

Squire Investments through the entity 43 Crosby Street Property Owner LLC as borrower signed a loan agreement with lender City National Bank valued at $27.0 million for 1 parcel, including the tax class multifamily, artists in residence (D2) and containing 5 residential units at 43 Crosby Street in Soho. The deal closed on September 16, 2020 and was recorded on October 1, 2020.
The property contains a total of 11,520 square feet of built space. The property has 12,548 square feet of available development rights.
The average loan per buildable square foot is $2,152.
The total value of the loan noted in filings is $29.5 million. The last time the property sold was October 29, 2014, for $15,000,000. 
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 4 residential (or hotel) units on January 6, 2014.

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