727 7Th Ave Associates LLC obtained financing of $6M from First Republic Bank

727 7Th Ave Associates LLC as borrower signed a loan agreement with lender First Republic Bank valued at $6.3 million for 1 parcel, including the tax class miscellaneous (K9) at 727 7 Avenue in Times Square. The deal closed on August 01, 2019 and was recorded on August 09, 2019.
The property contains a total of 24,995 square feet of built space. The property has 10,575 square feet of available development rights.
The average loan per buildable square foot is $250.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $36,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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