G Holdings signs $10.2M refi loan with Nassau CorAmerica for retail, parking in Midtown West

G Holdings through the entity Granite 230 Garage LLC as borrower signed a refi loan with lender Nassau CorAmerica through the entity Nassau CorAmerica Loan Company LLC valued at $10.2 million for a retail condo unit and a garage condo unit at the 232-unit rental building La Premier, at 230 West 55th Street in Midtown West, Manhattan, which is divided into three condominium units. This loan does not cover the apartment condominium unit which contains all the 232 residential units.
The deal closed on January 20, 2026 and was recorded on February 5, 2026. The prior lender was Israel Discount Bank which held debt that had an original loan amount of $14 million.The two properties have 38,296 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $267 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 G Holdings was Ronnie Gross . The signatory for Nassau CorAmerica was William M. Petak .

The property

The units condo in Midtown West have 38,296 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 12,722 square feet. The city-designated market value for the property in 2022 is $7.5 million.

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.

The neighborhood

In Midtown West, The majority, or 75 percent of the 75.9 million square feet of commercial built space are office buildings, with hotel buildings next occupying 14 percent of the space. In sales, Midtown West has the 3rd highest sale turnover among other neighborhoods in the city with $4.2 billion in sales volume in the last two years. For development, Midtown West is the most active neighborhood among other neighborhoods. It had 42.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 56 percent of the neighborhood’s built space.

The block

On the tax block of 230 West 55th Street, PincusCo has identified the owners of six of the 11 commercial properties representing 1,212,519 square feet of the 1,327,970 square feet. The largest owner is Madison Equities, followed by Magna Hospitality Group and then Dream Hotel Group.
On the tax block, there were two new building construction projects totaling 426,642 square feet. The largest is a 670-unit, 241,346 square-foot 70 building submitted by Extell Development and filed by David Rothstein with plans filed September 22, 2023 and permitted October 1, 2025. The second largest is a 512-unit, 185,296 square-foot 70 building submitted by Extell Development and filed by David Rothstein with plans filed September 22, 2023 and it has not been permitted yet.

The majority, or 73 percent of the 1.3 million square feet of built space are office buildings, with hotel buildings next occupying 19 percent of the space.

Direct link to Acris document. link