Glacier Global Partners and Triangle Assets borrow $205M from Natixis for property in Dumbo

Glacier Global Partners and Triangle Assets through the entity 10 Jay Property LLC as borrower signed a loan agreement with lender Natixis, New York Branch valued at $205.0 million for 10 Jay Street in Dumbo. The deal closed on July 5, 2019 and was recorded on October 1, 2019.
The property contains a total of 170,493 square feet of built space.
The average loan per buildable square foot is $791.
Newmark Knight Frank’s Dustin Stolly, Jordan Roeschlaub, Dylan Kane, Chris Kramer and Nick Scribani arranged the financing according to The Real Deal.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on November 15, 2018.
Over the past five years, there have been 20 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $16,533,900. There were 19 renovation/alteration projects (A2) applied for with a total estimated value of $10,631,563.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
A recent story on the property. link.