Intercontinental Real Estate borrows $34.2M from Webster Bank for property in Soho

Intercontinental Real Estate through the entity 30 Howard Street Owner NY, LLC as borrower signed a loan agreement with lender Webster Bank valued at $34.2 million for 1 parcel, including the tax class office building with commercial with one to six stories (O5) at 32 Howard Street in Soho. The deal closed on January 13, 2021 and was recorded on January 19, 2021.
The property contains a total of 30,034 square feet of built space.
The average loan per buildable square foot is $950.
The ownership entity is ultimately controlled by U.S. Real Estate Investment Fund REIT. The last time the property sold was January 9, 2018 for $46,000,000.
Over the past five years, there have been 10 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 10 renovation/alteration projects (A2) applied for with a total estimated value of $501,000.

Direct link to Acris document. link