United American Land obtained financing of $13M from Citi Real Estate Funding

United American Land through the entity 34 Howard Owner LLC as borrower signed a loan agreement with lender Citi Real Estate Funding Inc. valued at $12.7 million for 1 parcel, including the tax class miscellaneous loft (L9) at 34 Howard Street in Soho. The deal closed on July 17, 2019 and was recorded on July 25, 2019.
The property contains a total of 15,056 square feet of built space. The property has 1,656 square feet of available development rights.
The average loan per buildable square foot is $844.
The last time the property sold was March 31, 2015, for $13,800,000.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,382,500. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $835,900.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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