Capstone Equities obtained financing of $41M from Aareal Capital Corporation

Capstone Equities through the entity 6 West 32Nd Street LLC as borrower signed a loan agreement with lender Aareal Capital Corporation valued at $41.0 million for 1 parcel, including the tax class miscellaneous (H9) at 6 West 32 Street in Garment District. The deal closed on July 29, 2019 and was recorded on August 05, 2019.
The property contains a total of 80,185 square feet of built space.
The average loan per buildable square foot is $511.
The last time the property sold was August 30, 2017, for $51,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 4 residential (or hotel) units on August 25, 2014.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. There was one renovation/alteration project (A2) applied for with a total estimated value of $50,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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