Heywood Towers Associates L.P. obtained financing of $28M from Principal Life Insurance Company

Heywood Towers Associates L.P. as borrower signed a loan agreement with lender Principal Life Insurance Company valued at $28.0 million for 1 parcel, including the tax class multifamily, fireproof – with stores (D6) and containing 187 residential units at 175 West 90 Street in the Upper West Side. The deal closed on July 17, 2018 and was recorded on August 28, 2019.
The property contains a total of 233,880 square feet of built space. The property has 72,681 square feet of available development rights.
The average loan per unit is $149,733.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 188 residential (or hotel) units on February 16, 2017.
Over the past five years, there have been 6 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $461,400.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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