Durst Organization and Bank of America obtained financing of $1.6B from Bank of America

Durst Organization and Bank of America through the entity One Bryant Park LLC as borrower signed a loan agreement with lender Bank of America through the entity Citibank, N.A. valued at $1.6 billion for 1 parcel, including the tax class tower-type office building (O4) at 1 Bryant Park in Midtown. The deal closed on August 21, 2019 and was recorded on August 28, 2019.
The property contains a total of 2,245,112 square feet of built space.
The average loan per buildable square foot is $713.
The last time the property sold was December 18, 2003, for $45,846,125.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on July 30, 2012.
Over the past five years, there have been 93 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 major renovation applications including a certificate of occupancy change (A1) filed with a total estimated value of $1,260,000. There were 91 renovation/alteration projects (A2) applied for with a total estimated value of $76,595,745.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.