Graff International borrows $28.M from Canada Life to buy property in Lenox Hill

January 20, 2021 7:18 am

Graff International through the entity 712 Madison Estate (NY) Inc. as borrower signed a loan agreement with lender Canada Life European Real Estate Limited valued at $28 million to buy for 1 parcel, including the tax class retail building with apartments above (K4) at 712 Madison Avenue in Lenox Hill. The deal closed on January 8, 2021 and was recorded on January 19, 2021.
The property contains a total of 5,480 square feet of built space.
The average loan per buildable square foot is $5,109.
Graff purchased the building from SL Green Realty for $43 million.

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