Elias Kefalidis’s KLM Equities borrows $90M from Helaba for office property in Flatiron

Elias Kefalidis KLM Equities through the entity Walnut Point Realty LLC as borrower signed a loan agreement with lender Helaba through the entity Landesbank Hessen-Thuringen Girozentrale valued at $90.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 920 Broadway in Flatiron. The deal closed on October 29, 2019 and was recorded on November 15, 2019.
The property contains a total of 97,500 square feet of built space.
The average loan per buildable square foot is $923.
The last time the property sold was May 21, 2014, for $117,826,250.

Over the past five years, there have been 59 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 $3,000. There were 58 renovation/alteration projects (A2) applied for with a total estimated value of $9,776,366.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link