Lam Group obtained financing of $68M from Investors Bank

Lam Group through the entity Lam Platt Street Hotel LLC as borrower signed a loan agreement with lender Investors Bank valued at $67.5 million for 1 parcel, including the tax class licensed parking lot (G6) at 4 Platt Street in Financial District. The deal closed on July 15, 2019 and was recorded on July 19, 2019.
The property contains a total of 114,226 square feet of built space.
The average loan per buildable square foot is $591.
The last time the property sold was April 16, 2007, for $37,485,070.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 261 residential (or hotel) units on December 21, 2015.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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