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David Silvera Of Silvera Properties Secures $22M Loan From Citibank For Tribeca Multifamily Building

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FINANCED
$22,000,000

New York

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MultiFamily31,262 SF
Financed 12/29/2025
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Property Image
FINANCED

David Silvera Of Silvera Properties Secures $22M Loan From Citibank For Tribeca Multifamily Building

29 31 Leonard Street

See Similar Deals
MultiFamily31,262 SF
Financed 12/29/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$703
Total Square Footage:31,262 SF
Transaction Type:Loan

The asset involved in this transaction is a multi-family residential building located at 29-31 Leonard Street, Tribeca, Manhattan. The total square footage of the property is 31,262 and it comprises 11 residential units.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $22,000,000
  • Address: 29-31 Leonard Street
  • Market: Tribeca, Manhattan
  • Lender: Citibank
  • Landlord: David Silvera - Silvera Properties

This deal was facilitated by Silvera Properties, which executed the loan through its subsidiary, 31 Leonard Street, LLC. Citibank served as the lender for this financial transaction.

Players

Citibank
Citibank
LENDER

Details

FINANCED
IMAGE: 12/29/2025 ADDRESS: 29-31 Leonard Street MARKET: Tribeca, Manhattan ASSET TYPE: MultiFamily ~ SF: 31,262 ~ UNITS: 11 LENDER: Citibank LANDLORD: David Silvera - Silvera Properties LOAN AMOUNT: $22,000,000 NOTE: Silvera Properties, through 31 Leonard Street, LLC, closed a $22M loan with Citibank for its 11-unit residential elevator building at 29-31 Leonard Street in Tribeca, Manhattan.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$22,000,000.00

Monthly NOI$146,666.67
Monthly Debt Service$139,054.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00