JPMorgan Asset Management refis with $130M from Prudential for multifamily property in Flatiron

JPMorgan Asset Management through the entity Chelsea New York Realty Company LLC as borrower signed a loan agreement with lender The Prudential Insurance Company Of America valued at $130 million for 1 parcel, including the tax class multifamily, luxury type (D8) and containing 387 residential units at 776 Sixth Avenue in Flatiron. The deal closed on March 20, 2020 and was recorded on March 23, 2020.
The property contains a total of 454,538 square feet of built space.
The average loan per unit is $335,917.

The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 387 residential units on October 16, 2012.
Over the past five years, there have been 23 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $10,185,000. There were 22 renovation/alteration projects (A2) applied for with a total estimated value of $4,985,305.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link