Jack Elo’s Elo Capital borrows $16M from JPMorgan Chase Bank for property in Garment District

Jack Elo’s Elo Capital through the entity Elo Capital LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank, N.A. valued at $15.5 million for 1 parcel, including the tax class office building with commercial with seven to 19 stories (O6) at 42 West 38th Street in Garment District. The deal closed on October 3, 2019 and was recorded on October 9, 2019.
The property contains a total of 66,577 square feet of built space.

Over the past five years, there have been 2 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $108,620.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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