Affiliate of former Qatar PM borrows $45M from JPMorgan Chase for Lenox Hill townhouse

Sheik Hamad bin Jassim bin Jaber Al-Thani through the entity Tower Management Holdings LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $45 million for 1 parcel, including the tax class office building with two to six stories (O2) at 20 East 71st Street in Lenox Hill. The deal closed on July 8, 2020 and was recorded on July 28, 2020.

The New York Post reported that Al-Thani, Qatar’s prime minister until 2013, was the buyer of the townhouse, from Aby Rosen, in 2012 for $47 million. The owner in late 2019 completed a project to renovate the building and change the certificate of occupancy from office to single family, with an initial price with the Department of Buildings of $10.35 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on December 6, 2018.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000.  There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $3,704,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link