Empire Hotel Group borrows $12M from Apple Bank for Savings for hotel in Midtown West

Jay Domb’s Empire Hotel Group through the entity 319 Belvedere Realty LLC as borrower signed a loan agreement with lender Apple Bank For Savings valued at $12 million for the Belvedere Hotel (H2) at 319 West 48th Street in Midtown West. The deal closed on February 13, 2020 and was recorded on February 20, 2020.
The property contains a total of 186,954 square feet of built space.
The average loan per buildable square foot is $64.

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. There was one renovation/alteration project (A2) applied for with a total estimated value of $25,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link