Centurion Realty ups debt to $75M from Credit Agricole for Apple store building in Soho

Ralph Tawil Jr.’s Centurion Realty through the entity 103 Prince Property LLC as borrower signed a loan agreement with lender Credit Agricole Corporate and Investment Bank valued at $75 million for 1 parcel, including the tax class two-story or store and office (K2) at 103 Prince Street in Soho. The deal closed on March 18, 2020 and was recorded on April 1, 2020.
The property contains a total of 28,434 square feet of built space. The property has 49,695 square feet of available development rights.
The average loan per buildable square foot is $1,509.
The Soho Apple store is located in this building. The prior lender Safra National Bank provided a $47.1 million loan to Centurion in 2011. That loan was assigned to Credit Agricole and $30.3 million in a gap loan was added. The last time the property sold was December 28, 2011, when members of the Berk family sold it for $70,850,000 to Centurion and Crown Acquisitions.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $161,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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