BLDG signs $45M loan with Goldman Sachs for office in Central Harlem

Lloyd Goldman’s BLDG Management through the entity 125th Street Office Center LLC as borrower signed an acquisition loan with lender Goldman Sachs through the entity Goldman Sachs Bank USA valued at $45 million for the industrial (CR) at 105 West 125th Street in Central Harlem, Manhattan. BLDG and David Werner acquired the leasehold from Brookfield Properties at the same time, for $57 million.
The deal closed on May 26, 2021 and was recorded on June 10, 2021.
The property has 141,759 square feet of built space. The loan price per built square foot is $317 per the PincusCo analysis.

The signatory for BLDG Management CO was Lloyd Goldman.

Within a 400-foot radius of 105 West 125th Street, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was in new building development. It was a new building permit issued on April 2, 2021 for a 357,425-square-foot R-2 building with 171 residential units at 126 West 126th Street.
Of those six items, one was for major renovation including a certificate of occupancy change. It was a permit applications filed on March 4, 2020 for the $834,000.0 renovation of 5,635-square-foot R-2 building with eight residential units at 135 West 126th Street.
Of those six items, two were sales above $5 million totaling $55.5 million. The most recent of the two was Regal Acquisitions which bought the 15,012-square-foot, four-unit office building (O5) on 286 Lenox Avenue for $10.2 million from Real Estate Equities Corporation on April 1, 2020.
Of those six items, two were loans above $5 million totaling $14.0 million. The most recent of the two was Regal Acquisitions which borrowed $7.0 million from Td Bank, N.A. secured by the 15,012-square-foot, four-unit office building (O5) on 286 Lenox Avenue on March 26, 2021.

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