Graff borrows $14M from Canada Life for property in Lenox Hill

The jeweler Graff through the entity New York 61st Street Estate Inc. as borrower signed a loan agreement with lender Canada Life European Real Estate Limited valued at $14 million for 1 parcel, including the tax class office building with two to six stories (O2) at 46 East 61st Street in Lenox Hill. The deal closed on September 23, 2020 and was recorded on October 26, 2020.
The property contains a total of 9,658 square feet of built space. The property has 20,080 square feet of available development rights.
The average loan per buildable square foot is $697.
The last time the property sold was February 27, 2013, for $28,679,710.
Graff recently refinanced another property.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $79,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link