Trevive Global gets rehab construction loan as part of $13.9M refi for UWS rental

Orly Gilat’s Trevive Global though its W 108 Development LLC as borrower signed a loan with lender Columbia Pacific Advisors through its CPIF Lending, LLC valued at $13.9 million for the 10-unit rental (D1) at 324 West 108th Street in the Upper West Side, Manhattan.
The deal closed on February 12, 2021 and was recorded on May 4, 2021. The deal includes a $3.7 million building loan and a $755,921 project loan on top of a refi of a $9.4 million loan.
The property has 16,478 square feet of built space and 1,097 square feet of additional air rights for a total buildable of 17,560 square feet according to PincusCo analysis of city data. The loan price per built square foot is $843 and the price per buildable square foot is $791 per the PincusCo analysis.
The owner bought the property on March 10, 2015, for $11.8 million.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $630,000. (121193341) One of the projects were to change the building from a H-2 to a R-2 and change the number of residential units from 0 to 10 and were permitted on March 1, 2018.

Direct link to Acris document. link“