William Gottlieb Real Estate signs $10M refi for two properties in West Village

William Gottlieb Real Estate through the entity 356 West 12th Street, LLC as borrower signed a refi loan with lender Sterling National Bank valued at $10 million for two properties including the office building (O1) at 356 West 12th Street in West Village, Manhattan and mixed-use building (S1) at 366 West 12th Street in West Village, Manhattan.
The deal closed on October 20, 2021 and was recorded on October 27, 2021.
The two properties have 11,084 square feet of built space and 11,273 square feet of additional air rights for a total buildable of 21,495 square feet according to PincusCo analysis of city data. The loan price per built square foot is $902 and the price per buildable square foot is $465 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for William Gottlieb Real Estate was Neil Bender.
Over the past five years, there have been 2 NYC Department of Buildings permit applications 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 $252,500. One of the projects were to change the building from a RES to a R-3.
This is $10 million in new debt on the two properties.

The owners according to the Department of Housing Preservation and Development includes Neil Bender, head officer and Julio Hernandez, officer. The business entity is 366 West 12th Street, Llc.

Within a 400-foot radius of 366 West 12th Street, PincusCo identified five real estate items of interests occurred over the past 24 months.
Of those five items, three were sales above $5 million totaling $35.7 million. The most recent of the three was West12th10014 LLC which bought two condo units in the 61-unit condo building (R4) on 400 West 12th Street and one other property for $13 million from Brian Early and Tracey Early on July 20, 2021.
Of those five items, two were loans above $5 million totaling $67.9 million. The most recent of the two was Noam Gottesman which borrowed $46.4 million from Citibank secured by the one-unit townhouse (A4) on 777 Washington Street on March 20, 2020.

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