LeFrak refis HQ building in Plaza District with $150M from Wells Fargo

LeFrak Organization through the entity Lefrak SBN Limited Partnership as borrower signed a loan agreement with lender Wells Fargo Bank, valued at $150 million for 1 parcel, including the tax class office building tower type with 20 or more stories (O4) at 40 West 57th Street in Plaza District. The deal closed on March 1, 2021 and was recorded on March 9, 2021. LeFrak has its headquarters in the building.
The property contains a total of 712,000 square feet of built space.
The average loan per buildable square foot is $211.
This refinances a $150 million loan from Capital One made in 2013.
Over the past five years, there have been 84 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $640,290.0. There were 83 renovation/alteration projects (A2) applied for with a total estimated value of $33,869,099.

Direct link to Acris document. link