Capstone Equities and Republic Investment Company obtained financing of $44M from Argentic Real Estate Investment

Capstone Equities and Republic Investment Company through the entity 17 W 32 St Owner LLC as borrower signed a loan agreement with lender Argentic Real Estate Investment LLC valued at $44.0 million for 1 parcel, including the tax class transient occupancy hotel in midtown Manhattan area (H3) at 17 West 32 Street in Garment District. The deal closed on August 08, 2019 and was recorded on August 19, 2019.
The property contains a total of 71,674 square feet of built space. The property has 7,097 square feet of available development rights.
The average loan per buildable square foot is $614.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 29, 2017.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link