Lloyd Goldman’s BLDG ups debt to $289.3M for new 429-unit rental in Grand Central

October 15, 2020 7:34 am

Lloyd Goldman’s BLDG Management through the entity BLDG 44 Developers LLC as borrower signed a loan agreement with lender Greystone & Co. valued at $289.3 million for 4 parcels, including the tax class commercial condo recorded in Acris (CC) at 222 East 44th Street in Grand Central. The deal closed on September 22, 2020 and was recorded on October 14, 2020.
The property contains a total of 451,001 square feet of built space and 429 residential units. BLDG was issued a TCO in February 2019 for an $81 million renovation project filed for in 2015.

The 2015 project converted an existing six-story building to a 42-story tower.

The financing includes $38.1 million in new debt.

Direct link to Acris document. link

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