CL Investment Group borrows $23M from Bank of China to buy retail condos in Yorkville

The Beijing-based CL Investment Group through the entity 1683 Third Avenue Retail LLC as borrower signed a loan agreement with lender Bank of China valued at $23 million for 3 retail condominiums, including the tax class commercial condo recorded in Acris (CC) at the Kent condominium at 200 East 95th Street also known as 1683 Third Avenue in Yorkville. The deal closed on April 15, 2020 and was recorded on April 30, 2020.

CL Investment borrowed $23 million for the purchase of the retail condos from Extell Development. Extell’s lender, Capital One assigned the $23 million from $50 million that had been remaining in debt prior to the sale. $27 million remains unpaid secured by Extell’s unsold condo units in the Kent. The building was issued its initial TCO March 6, 2018.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link