Three Wall Capital borrows $17M from East West Bank for hotel property in Gowanus

Alan Kanders’s Three Wall Capital through the entity Butler Hotel Property LLC as borrower signed a loan agreement with lender East West Bank valued at $17.0 million for a hotel at 279 Butler Street in Gowanus. The deal closed on November 15, 2019 and was recorded on December 3, 2019.
The property contains a total of 29,077 square feet of built space.
The average loan per buildable square foot is $585.
The last time the property sold was December 9, 2013, for $19,250,000.

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