Jujamcyn Theaters LLC as borrower signed a loan agreement with lender Capital One valued at $203.0 million for 5 parcels, including the tax class legitimate theaters (J4) at 219 West 48th Street, 246 West 44th Street, 243 West 52nd Street, 230 West 49th Street, 302 West 45th Street in Times Square. The deal closed on September 24, 2019 and was recorded on October 1, 2019.
The property contains a total of 7,200 square feet of built space. The property has 369,100 square feet of available development rights.
The average loan per buildable square foot is $387.
The package includes $95.7 million in new debt. The last time the property sold was December 27, 2012, when an interest transferred for $115,057,065.
Over the past five years, there have been 3 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $250,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link