Diamond jeweler Graff borrows $23M from Canada Life for property in Lenox Hill

Diamond jeweler Graff through the entity 710 Madison Estate (NY) Inc as borrower signed a loan agreement with lender Canada Life European Real Estate Limited valued at $22.6 million for 1 parcel, including the tax class retail building with apartments above (K4) and containing 3 residential units at 710 Madison Avenue in Lenox Hill. The deal closed on December 11, 2019 and was recorded on December 18, 2019.
The property contains a total of 8,400 square feet of built space.
The average loan per buildable square foot is $1,614.
The last time the property sold was February 12, 2019, when Graff bought it from the Gindi family’s ASG Equities for $66,500,000.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $56,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link