Beacon Capital Partners through the entity The Building At 575 Fifth Office Owner LLC as borrower signed a loan agreement with lender TPG Real Estate Finance Trust through the entity Tpg Re Finance 23, Ltd. valued at $308.8 million for 1 parcel, including the tax class commercial condominium unit (R5) at 575 5 Avenue in Grand Central. The deal closed on August 21, 2019 and was recorded on August 28, 2019.
The property contains a total of 371,374 square feet of built space.
The average loan per buildable square foot is $831.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 09, 2012.