Dalan Management obtained financing of $39M from Popular Bank

Dalan Management through the entity Wireless 44th Street Partner LLC as borrower signed a loan agreement with lender Popular Bank valued at $39.0 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 164 residential units at 230 East 44th Street in Grand Central. The deal closed on September 10, 2019 and was recorded on September 12, 2019.
The property contains a total of 135,315 square feet of built space.
The average loan per unit is $237,805.
The last time the property sold was February 25, 2015, for $47,000,000.

Over the past five years, there have been 27 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $70,875. There were 26 renovation/alteration projects (A2) applied for with a total estimated value of $7,697,150.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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