333 East 43rd Street co-op in Midtown East borrows $14.5M from Principal Life

333 East 43rd Street cooperative through the entity 333 East 43 Owners Corp as borrower signed a loan agreement with lender Principal Life Insurance Company valued at $14.5 million for 1 parcel, including the tax class cooperative (D4) and containing 215 residential units at 333 East 43rd Street in Midtown East. The deal closed on July 30, 2020 and was recorded on August 10, 2020.
The property contains a total of 149,000 square feet of built space.
The average loan per unit is $67,442.
The financing includes an $8.6 million gap loan.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 12 renovation/alteration projects (A2) applied for with a total estimated value of $1,098,445.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link