Centaur Properties borrows $20M from Sterling National for property in Flatiron

Centaur Properties through the entity LF Gramercy Property Co., LLC as borrower signed a loan agreement with lender Sterling National Bank valued at $20 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 33 East 21st Street in Flatiron. The deal closed on November 20, 2020 and was recorded on December 10, 2020.
The property contains a total of 100,000 square feet of built space.
The average loan per buildable square foot is $200. The signatory for Centaur was Harlan Berger.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $1,606,000.

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