David Katz obtained $53m in financing for Hotel Beacon from Apple Bank for Savings

David Katz through the entity Beacway Operating, LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $52.5 million for 1 parcel, including the tax class transient occupancy hotel (H3) and containing 62 residential units at 2130 Broadway in the Upper West Side. The deal closed on August 29, 2019 and was recorded on September 06, 2019.
The property, the Hotel Beacon, contains a total of 249,505 square feet of built space.
The average loan per unit is $725,806.
The loan included $45 million of debt and a $7.5 million loan facility, city records show.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 08, 2012.
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. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $160,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $510,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link