Carmel Partners borrows from Axos Bank against $80M Pink Stone loan in FiDi

Carmel Partners borrowed an undisclosed amount from Axos Bank to fund an $80 million loan Carmel provided Pink Stone Capital. Pink Stone borrowed $80 million from Carmel in August.
The financing is ultimately secured by 1 parcel, including the tax class land not zoned residential or Manhattan below 110th Street (V1) at 111 Washington Street in Financial District. The deal closed on October 1, 2020 and was recorded on November 16, 2020.

This is a collateral assignment of the loan, in which Carmel Partners is borrowing an undisclosed amount from Axos Bank to fund the $80 million loan Carmel provided to Pink Stone Capital. The last time the property sold was August 11, 2020, for $57,728,145.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 340,376 square feet. Those plans include a total of 388 residential or hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link