Daniel Boulud’s Dinex Group borrows $12M from JPMorgan Chase for restaurant condo in Lenox Hill

Daniel Boulud’s Dinex Group through the entity 65th Street RE, LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $12.2 million for a commercial condominium unit (R5) at 60 East 65th Street, or 610 Park Avenue, in Lenox Hill. The deal closed on October 15, 2019 and was recorded on October 23, 2019.
The condo unit contains a total of 17,762 square feet of built space.
The average loan per buildable square foot is $687.
The condo unit is the largest of three commercial units in the building, and is the location of Boulud’s restaurant Daniel. The new amount of debt is below the high of $15 million borrowed in 2013 from Capital One bank. The remainder of that debt was assigned to JPMorgan Chase and $1.825 million of new debt was added as a gap mortgage. Boulud’s Dinex Group bought the condo unit in 1998 for $5 million, an analysis of city records shows.

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