Handro Properties borrows $37M from New York Community Bank for property in Hudson Yards

Handro Properties through the entity 315 Associates LLC as borrower signed a loan agreement with lender New York Community Bank valued at $37.0 million for 1 parcel, including the tax class loft with more than eight stories (mid-Manhattan type with or without stores) (L1) at 315 West 39th Street in Hudson Yards. The deal closed on September 12, 2019 and was recorded on September 18, 2019.
The property contains a total of 132,684 square feet of built space.
The average loan per buildable square foot is $279.
The last time the property sold was October 17, 2013, for $19,056,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 7, 2012.
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 $120,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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