ABS Partners Real Estate, Benenson Real Estate obtained financing of $31M from Principal Life Insurance Company

ABS Partners Real Estate, Benenson Real Estate through the entity 145 East 57Th Street Associates LLC as borrower signed a loan agreement with lender Principal Life Insurance Company valued at $30.5 million for 1 parcel, including the tax class miscellaneous office building (O9) at 145 East 57 Street in Plaza District. The deal closed on June 27, 2019 and was recorded on July 19, 2019.
The property contains a total of 58,458 square feet of built space.
The average loan per buildable square foot is $522.
The last time the property sold was October 06, 2016, for $62,750,000.

Over the past five years, there have been 12 NYC Department of Buildings permit applications filed for this parcel. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $398,000. There were 11 renovation/alteration projects (A2) applied for with a total estimated value of $1,686,965.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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