Kushner Companies borrows $150M from AIG for property in Soho

Kushner Companies through the entity New Puck, LLC as borrower signed a loan agreement with lender AIG through the entity American General Life Insurance Company valued at $150.0 million for the office condo at the Puck Building at 295 Lafayette Street in Soho. The deal closed on September 19, 2019 and was recorded on September 27, 2019.
The property contains a total of 165,593 square feet of built space.
The average loan per buildable square foot is $906.
The $150 million package includes $68.7 million in new debt on top of the remainder of an $85 million debt package the Royal Bank of Scotland lent the Kushners in 2011, which was later transferred to Deutsche Bank.

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