JSRE borrows $54M from Banque J. Safra for former Ashkenazy retail in Lenox Hill

JSRE Acquisitions through the entity Vzw Nyc Acquisition Group, LLC as borrower signed a loan agreement with lender Banque J. Safra Sarasin (Luxembourg) Sa valued at $53.7 million for 1 parcel, including the tax class retail condominium (RK) at 841 Madison Avenue in Lenox Hill. The deal closed on October 16, 2020 and was recorded on December 16, 2020.

PincusCo reported in November that JSRE Acquisitions had acquired control of the property from Ashkenazy Acquisition. Prada is the tenant in the retail space.

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