Durst triples debt at 1133 Sixth to $768M

The Durst Organization through the entity DOLP 1133 Properties III LLC as borrower signed a refi loan with lenders Bank of America, Citigroup and Wells Fargo valued at $768.7 million for the office building (O4) at 1133 Sixth Avenue in Midtown, Manhattan.
The deal closed on April 20, 2021 and was recorded on May 11, 2021.
The property has 1,039,529 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $739 per the PincusCo analysis.

The signatory for Durst Organization was Lucas Durst.
(122488058)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 24, 2016.
Durst Organization increased the debt with a $578 million gap loan, nearly tripling the amount of the last loan which was $230 million given in 2011.

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