Torkian Group borrows $32M from Bank Leumi for property in Financial District

Torkian Group through the entity 110 Greenwich I LLC as borrower signed a loan agreement with lender Bank Leumi Usa valued at $32 million for 1 parcel, including the tax class multifamily, luxury type (D8) and containing 60 residential units at 110 Greenwich Street in Financial District. The deal closed on February 25, 2021 and was recorded on March 5, 2021.
The property contains a total of 57,941 square feet of built space.
The average loan per unit is $533,333.
The last time the property sold was October 15, 2014 for $52,850,000.
Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $2,874,500. Those filings sought to increase the number of residential units by 9 to 129 There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $778,250.

Direct link to Acris document. link