Hilson Management Corp. obtained financing of $35M from New York Community Bank

Hilson Management Corp. through the entity 185 Madison Avenue LLC as borrower signed a loan agreement with lender New York Community Bank valued at $34.5 million for 1 parcel, including the tax class office building with ten stories or more (main avenue type) (O3) at 185 Madison Avenue in Garment District. The deal closed on July 11, 2019 and was recorded on July 19, 2019.
The property contains a total of 79,961 square feet of built space.
The average loan per buildable square foot is $431.

Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel. There were 7 renovation/alteration projects (A2) applied for with a total estimated value of $2,982,740.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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