Piermont Bank Provides $4.2M Acquisition Loan For West Village Mixed-Use Property

Located in the vibrant West Village neighborhood of Manhattan, a mixed-use property at 16 Barrow Street and 89 Seventh Avenue South has recently been involved in a significant transaction. The property, spanning 7,900 square feet, offers a diverse range of uses and is situated in a sought-after market.

Summary of Transaction Details:

• Property Type: Mixed-Use
• Transaction Amount: $4,186,000
• Loan Type: Acquisition
• Loan Terms: 65% Loan-to-Cost

Piermont Bank, a notable lender, provided a loan of $4,186,000 for the acquisition of this West Village property. The loan amount represents 65% of the property's total cost.

The landlord in this transaction is PAJ Equity, represented by Sean Rucker. The deal was facilitated by brokers Dylan Kane and Zach Redding from Colliers. Their expertise and negotiation skills played a pivotal role in the successful completion of this acquisition.