Library Hotel Collection borrows $6M from Durst, its landlord, for hotel in Times Square

Imrich Henry Kallan’s Library Hotel Collection through the entity Hotel Casablanca, Inc. as borrower signed a loan agreement with lender Durst Organization through the entity The Durst Buildings Corporation valued at $6 million for the Casablanca Hotel (H2) at 147 West 43rd Street in Times Square. The deal closed on February 6, 2020 and was recorded on February 20, 2020.
The property contains a total of 30,150 square feet of built space. The property has 60,300 square feet of available development rights.
The average loan per buildable square foot is $100.
Kallan leases the building from Durst, and Durst in turn is the ground tenant with ground lessor Singer Trust.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 56 hotel units on June 24, 2013.

Direct link to Acris document. link
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