Elo Equity ups debt to $141M from Citigroup for property in Times Square

Elo Equity through the entity Elo Equity LLC as borrower signed a loan agreement with lender Citigroup through the entity Citi Real Estate Funding Inc. valued at $141 million for 3 parcels, including the tax class office building with commercial with seven to 19 stories (O6) at 151 West 46th Street, 15 West 47th Street, and 48 West 48th Street in Times Square. The deal closed on December 10, 2020 and was recorded on December 23, 2020.
The signatory for the borrower was Jack Elo. The financing includes $41 million in new debt.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.

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