Hakimian Organization borrows $42M from Signature Bank for 75 Wall condo in Financial District

The Hakimian Organization through the entity 75 Wall Associates, LLC as borrower signed a loan agreement with lender Signature Bank valued at $41.5 million for 89 residential condo units within the building that has 346 residential as well as additional hotel units at 75 Wall Street in Financial District. The deal closed on February 6, 2020 and was recorded on February 20, 2020.

The average loan per unit is $466,292.
This is a refinance of a condo inventory loan. Hakimian in 2019 refinanced the Andaz Wall Street hotel portion of the building with $55 million from Annaly Commercial Real Estate Group.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 346 residential units on August 8, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link