Extell, CL Investment sign $90M condo inventory loan with BDT & MSD Partners

Extell Development and its joint venture partner CL Investment Group through the entity 1683 Third Avenue Residential LLC as borrower signed a loan with lender BDT & MSD Partners through the entity BDT & MSD Rslp (G) Lending B, LLC valued at $90 million for 25 unsold condominium units at the Kent, at 200 East 95th Street in Yorkville, Manhattan. The building has 104 residential units.
The deal closed on January 21, 2026 and was recorded on January 30, 2026. The prior lender was Blackstone Group through Breds IV Loan Holdings  which held debt that had an original loan amount of $105 million as of 2021.

The 25 properties have 78,281 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $1,149 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for the borrowers, 1683 Third Avenue Residential LLC was Brendan Liang. The signatory for the lender was Kenneth Gerold.

The property

The property has a 421A exemption that started in 2020 and expires in 2040.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot. On the tax lot, the most recent condominium plan was filed by 95TH AND THIRD LLC to create 104 residential units and 1 commercial units in a building at 200 East 95th Street in Yorkville, Manhattan, called Kent Condominium that has a $568.7 million sellout, according to an August 12, 2015 submission to the New York State Attorney General. The principal of the sponsor, 95TH AND THIRD LLC, was Gary Barnett.

The block

On the tax block of 200 East 95th Street, PincusCo has identified the owners of eight of the 24 commercial properties representing 150,569 square feet of the 331,748 square feet. The largest owner is Gmc Parking, followed by Stahl Real Estate and then John Buonarguro.
There are no active new building construction projects on this tax block.

The majority, or 50 percent of the 331,748 square feet of built space are walkup buildings, with industrial buildings next occupying 20 percent of the space.

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