Macklowe Properties obtained financing of $17M from Fortress Credit Co.

Macklowe Properties through the entity 52Nd Street Barracuda Acquisition LLC as borrower signed a loan agreement with lender Fortress Credit Co LLC valued at $16.8 million for 1 parcel, including the tax class office bank building designed exclusively for banking (O6) at 12 East 52 Street in Plaza District. The deal closed on August 02, 2019 and was recorded on August 12, 2019.
The property contains a total of 30,160 square feet of built space. The property has 9,950 square feet of available development rights.
There is additional debt on the building.
The last time the property sold was February 05, 2016, for $32,000,000.

Over the past five years, there have been 2 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 $190,000. 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

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