Jeweler Graff refis $22.6M on Lenox Hill property from Canada Life and ups larger commercial loan by $53.6M

The jeweler Graff through the entity 710 Madison Estate (NY) Inc. as borrower signed a loan agreement with lender Canada Life European Real Estate Limited valued at $22.6 million for 1 parcel, including the tax class retail building with apartments above (K4) and containing 3 residential units at 710 Madison Avenue in Lenox Hill. The deal closed on September 23, 2020 and was recorded on October 21, 2020.
The property contains a total of 8,400 square feet of built space. The property has 14,000 square feet of available development rights.
The average loan per buildable square foot is $1,614.
Diamond jeweler Graff refinanced a loan it obtained in November 2019. The last time the property sold was February 12, 2019, for $66,500,000. Bruno Ayanian was the signatory for Graff, while Nicholas Bent was the signatory for the lender.
The total amount that the Graff entities borrowed through the company AE Properties S. a.r.l. from the lender rose by $53.6 million (40 million pounds) to $371.55 million ($285.5 million pounds).

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 $56,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link
The signatory for the buyer or lender was Nicholas Bent