Cammeby’s ups debt by $8M to $125M with refi at 32-42 Broadway in FiDi

Cammeby’s International Group through the entity 32-42 Broadway Owner LLC as borrower signed a refinancing loan agreement with lender Citigroup through the entity Citi Real Estate Funding Inc. valued at $125 million for 2 parcels, including the tax class office building with commercial with seven to 19 stories (O6) at 32-42 Broadway in the Financial District. The deal closed on November 3, 2020 and was recorded on November 6, 2020.
The property contains a total of 143,000 square feet of built space.
The average loan per buildable square foot is $235.
Cammeby’s obtained $8.5 million in proceeds as it paid off a 2015 loan from New York Community Bank, that had a maximum principal of $117 million. The signatory for Cammeby’s was one of Rubin Schron’s sons Eli Schron, and for Citgroup it was Tina Lin.

Over the past five years, there have been 15 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 15 renovation/alteration projects (A2) applied for with a total estimated value of $1,238,331.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Tina Lin