Zev Marmurstein borrows $14M from Signature Bank for retail condo in Financial District

Zev Marmurstein and Edith Leser through the entity 40 Broad Associates No. 1 LLC as borrower signed a loan agreement with lender Signature Bank valued at $14.1 million for 3 parcels, including the tax class retail condominium (RK) at 40 Broad Street in the Financial District. The deal closed on October 10, 2020 and was recorded on January 22, 2021.
The property contains a total of 6,379 square feet of built space.
The average loan per buildable square foot is $366.

Over the past five years, there have been 14 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 14 renovation/alteration projects (A2) applied for with a total estimated value of $1,829,450.

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