TD Bank lends $11.5M to purchase office building in Tribeca

The entity 177 Franklin LLC signed by member Terrence Oved as borrower signed a loan agreement with lender TD Bank valued at $11.5 million to purchase 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 177 Franklin Street in Tribeca. The deal closed on March 20, 2020 and was recorded on April 16, 2020. The sale price was $18 million.
The property contains a total of 12,100 square feet of built space.
The average loan per buildable square foot is $873.
The last time the property sold was October 18, 2011, for $14,250,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 5, 2020.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $706,564.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link