Brookfield Properties borrows $80M from Crédit Agricole Group for hotel development in Hudson Yards

Brookfield Properties through the entity BOP NW LLC as borrower signed a loan agreement with lender Crédit Agricole Group through the entity Credit Agricole Corporate And Investment Bank valued at $80.0 million for 2 parcels, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 440 West 33rd Street in Hudson Yards. The deal closed on January 16, 2020 and was recorded on January 28, 2020.

This is for development of the Pendry Manhattan West hotel at 4 Manhattan West, with 164 units.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $250,000.There has been one new building permit application totaling 202,527 square feet. Those plans include a total of 164 hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link