Icon Realty Management borrows $28M from Signature Bank for property in Flatiron

Icon Realty Management through the entity 30 E 23 Realty LLC as borrower signed a loan agreement with lender Signature Bank valued at $28.0 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 30 East 23rd Street in Flatiron. The deal closed on August 21, 2019 and was recorded on September 23, 2019.
The property contains a total of 22,512 square feet of built space. The property has 1,985 square feet of available development rights.
The average loan per buildable square foot is $1,143.
The last time the property sold was November 21, 2016, for $26,500,000.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $2,330,750.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

CORRECTION: A prior version of this article incorrectly identified the borrower as Icon Realty Group. The correct name is Icon Realty Management.

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