Feil Organization and Rockpoint Group borrow $115M from Morgan Stanley for office property in Midtown West

Feil Organization and Rockpoint Group through the entity Rp/Feil 57 LLC as borrower signed a loan agreement with lender Morgan Stanley Bank valued at $115 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 200 West 57th Street, also known as 894 7th Avenue in Midtown West. The deal closed on December 30, 2019 and was recorded on January 10, 2020.
The property contains a total of 124,782 square feet of built space.
The average loan per buildable square foot is $922.
The prior lender, MetLife, provided $110 million in debt in 2016. The debt was assigned to Morgan Stanley and $5 million in a gap mortgage was added.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on July 12, 2012.
Over the past five years, there have been 35 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 35 renovation/alteration projects (A2) applied for with a total estimated value of $4,125,638.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link