Atlas Capital Group ups debt to $300M from Credit Suisse for LIC commercial building

Atlas Capital Group through the entity Factory Owner LLC as borrower signed a loan agreement with lender Credit Suisse through the entity Column Financial, Inc. valued at $300 million for 1 parcel, including the tax class heavy manufacturing, fireproof building (F1) at 47-07 30th Place in Long Island City. The deal closed on October 9, 2020 and was recorded on October 13, 2020.
The property contains a total of 970,000 square feet of built space.
The average loan per buildable square foot is $309.
The financing includes a $140 million gap loan and pays off a $160 million loan from Blackstone Group.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on September 25, 2012.
Over the past five years, there have been 101 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 101 renovation/alteration projects (A2) applied for with a total estimated value of $29,971,369.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was David Tlusty