Slate Property Group Obtains $38.8M Rehab Construction Loan For 118 West 13th Street In Greenwich Village, Manhattan

Slate Property Group has secured a rehab construction loan from Cerco Funding for the property located at 118 West 13th Street in Greenwich Village, Manhattan. The loan amount is $38.8 million. The multifamily asset spans 28,516 square feet and was purchased by Slate Property Group in September 2021 for $22.9 million. The previous owner of the property was Daniel Hochberg of 118 West 13th Street Owner LLC.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $38,800,000
• Address: 118 West 13th Street
• Market: Greenwich Village, Manhattan
• Lender: Cerco Funding - Michael Bodnev
• Landlord: Slate Property Group - Martin Nussbaum

Michael Bodnev from Cerco Funding has played a crucial role as the lender in this deal. Martin Nussbaum, representing Slate Property Group, acts as the landlord for the property. The rehab construction loan obtained by Slate Property Group from Cerco Funding will contribute to the development and enhancement of the building, adding value to this already significant investment.