115 Central Park West co-op borrows $30M from New York Community Bank in Lincoln Square

115 Central Park West co-op through the entity 115 Central Park West Corporation as borrower signed a loan agreement with lender New York Community Bank valued at $30.5 million for 1 parcel, including the tax class cooperative (D4) and containing 238 residential units at 115 Central Park West in Lincoln Square. The deal closed on September 18, 2020 and was recorded on October 1, 2020.
The property contains a total of 617,569 square feet of built space.
The average loan per unit is $127,941.
The prior maximum debt was $27.35 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 232 residential (or hotel) units on May 29, 2018.
Over the past five years, there have been 43 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 $302,000. There were 42 renovation/alteration projects (A2) applied for with a total estimated value of $13,291,799. Those filings sought to increase the number of residential units by 237 to 9,678.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link