Larry A. Wohl borrows $12M from Bank of New York Mellon for a hotel in Hudson Yards

Larry A. Wohl through the entity Ronbet Eighth Avenue LLC as borrower signed a loan agreement with lender Bank Of New York Mellon valued at $11.5 million for 1 parcel, including the tax class luxury type hotel built after 1960 (H2) and containing 320 hotel units at 523 8th Avenue in Hudson Yards. The deal closed on October 28, 2019 and was recorded on November 6, 2019. Developer Sam Chang and his McSam Hotel Group has applied for an initial temporary certificate of occupancy in September but it has not yet been issued as November 6.

The average loan per unit is $35,938.

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 was one renovation/alteration project (A2) applied for with a total estimated value of $144,000.There has been one new building permit application totaling 88,744 square feet. Those plans include a total of 320 hotel units. There has been one demolition project filed for the parcels over the past five years.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

Share this article