Goodman family ups debt to $400M from NYS Common Retirement Fund at Bergdorf Goodman on Fifth Avenue

The Goodman family in care of Madison Capital through the entity 754 Fifth Avenue Associates, L.P. as borrower signed a loan agreement with lender New York State Common Retirement Fund through the entity Comptroller of the State of New York, As Trustee valued at $400.0 million for 1 parcel, including the tax class multi-story department store (K3) at 742 to 754 Fifth Avenue in Plaza District. The deal closed on March 20, 2020 and was recorded on March 26, 2020.
The property contains a total of 211,669 square feet of built space.
The average loan per buildable square foot is $1,149.
The Goodman family of Bergdorf Goodman owns the building. The total debt includes this $100 million loan which has been added to the existing $300 million in debt already lent by the NYS Common Retirement Fund.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on March 22, 2016.
Over the past five years, there have been 31 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 31 renovation/alteration projects (A2) applied for with a total estimated value of $4,832,736.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link