200 Central Park South cooperative borrows $48M from Apple Bank for Savings

200 Central Park South cooperative through the entity Park South Tenants Corporation as borrower signed a loan agreement with lender Apple Bank for Savings valued at $48 million for 1 parcel, including the tax class cooperative (D4) and containing 309 residential units at 200 Central Park South in Central Park South. The deal closed on February 14, 2020 and was recorded on February 18, 2020.
The property contains a total of 564,196 square feet of built space.
The average loan per unit is $155,340.
In this financing, the cooperative took out $16 million in debt on top of the $32 million which had been refinanced in 2016 by the Bank of New York Mellon. That debt was assigned to Apple Bank for Savings as part of this new package totaling $48 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 306 residential (or hotel) units on May 8, 2013.
Over the past five years, there have been 42 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $73,750. There were 40 renovation/alteration projects (A2) applied for with a total estimated value of $11,169,668. Those filings sought to increase the number of residential units by 640 to 12,354.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link