L.H. Charney signs $241M refi with Deutsche Bank for 10 Times Square

L.H. Charney Associates through the entity Lechar 1441 LLC as borrower signed a refi loan with lender Deutsche Bank valued at $241 million for the office building (O4) at 10 Times Square at 1441 Broadway in Times Square, Manhattan.
The deal closed on August 13, 2021 and was recorded on September 13, 2021.
The property has 494,868 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $486 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for L.H. Charney Associates was Joseph N. Giannola.
Over the past five years, there have been 27 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 27 renovation/alteration projects (A2) applied for with a total estimated value of $9.2 million. One of the projects were to change the building from a COM to a B and were permitted on October 24, 2017.
The building is also known as 10 Times Square. Joseph Giannola is the CEO of L. H. Charney.

Within a 400-foot radius of 1441 Broadway, PincusCo identified six commercial real estate items of interests occurred over the past 24 months.
Of those six items, one was for major renovation including a certificate of occupancy change. It was a permit issued on July 28, 2020 for the $590,000 renovation of 747,576-square-foot B building with no residential units at 1440 Broadway.
Of those six items, five were loans above $5 million totaling $1.4 billion. The most recent of the five was ZG Capital Partners which borrowed $215 million from Bank of Montreal secured by the 362,850-square-foot, 150-unit office building (O4) on 1450 Broadway on August 31, 2021.

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