Comjem Associates refis $30M with Signature Bank for office property in Times Square

Jack Cohen’s Comjem Associates through the entity 721 Borrower LLC as borrower signed a loan agreement with lender Signature Bank valued at $30 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 721 Seventh Avenue in Times Square. The deal closed on October 10, 2020 and was recorded on March 10, 2021.
The property contains a total of 47,125 square feet of built space.
The average loan per buildable square foot is $637.
The last time the property sold was October 1, 2014 for $35,658,069.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $128,000.

Direct link to Acris document. link
The signatory for the buyer or lender was Gregory Fantauzzi