Glenwood signs $107.8M refi with Forethought Life for rental in Lincoln Square

Glenwood Management Corp through the entity West 64th Street LLC as borrower signed a refi loan with lender Forethought Life Insurance Company valued at $107.8 million for the 229-unit rental (D7) at 1930 Broadway in Lincoln Square, Manhattan.
The deal closed on June 2, 2021 and was recorded on June 10, 2021.
The property has 377,564 square feet of built space and 0 square feet of additional air rights for a total buildable of 306,270 square feet according to PincusCo analysis of city data. The loan price per built square foot is $285 per the PincusCo analysis.
The signatory for Glenwood Management Corp was Gary Jacob. The signatory for Forethought Life Insurance Company was Patrick Mattson.
Gary Jacob is the executive vice president of Glenwood Management Corp.
The owners according to the Department of Housing Preservation and Development includes Carole Pittelman, head officer and New Hyde Park Realty L.P., shareholder. The business entities are Glenwood Management Corp. and West 64th Street Llc.
Within a 400-foot radius of 1930 Broadway, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a permit issued on February 23, 2021 for the $105.8 million renovation of 193,803-square-foot A-1 building  at 10 Lincoln Center Plaza.

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