AEW CAPITAL obtained financing of $206M from JPMORGAN CHASE BANK

AEW CAPITAL MANAGEMENT through the entity 250 PARK AVENUE LLC as borrower signed a loan agreement with lender JPMORGAN CHASE BANK, N.A. valued at $206.0 million for 1 parcel, including the tax class office building with ten stories or more (main avenue type) (O3) at 250 Park Avenue in Grand Central. The deal closed on June 25, 2019 and was recorded on July 10, 2019.
The property contains a total of 519,783 square feet of built space.
The average loan per buildable square foot is $337.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 05, 2019.
Over the past five years, there have been 54 NYC Department of Buildings permit applications filed for this parcel. There were 54 renovation/alteration projects (A2) applied for with a total estimated value of $16,062,319.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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