Lawrence Lipman borrows $7M from HSBC Bank to refi Marriott hotel in Midtown West

Lawrence Lipman through the entity MP 44, LLC as borrower signed a loan agreement with lender HSBC Bank valued at $6.5 million for 1 parcel, including the tax class luxury type hotel built after 1960 (H2) at 324 West 44th Street in Midtown West. The deal closed on April 24, 2020 and was recorded on May 5, 2020.
The property contains a total of 35,420 square feet of built space and 114 hotel rooms.
This is the TownePlace Suites by Marriott New York Manhattan/Times Square extended stay hotel.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 114 hotel units on October 22, 2018.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000.There has been one new building permit application totaling 35,225 square feet. Those plans include a total of 114 hotel units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link