Madison Capital borrows $75M from Société Générale for newly completed property in Soho

Madison Capital through the entity MC 19 East Houston LLC as borrower signed a loan agreement with lender Société Générale valued at $75.0 million for the office and retail building at 606 Broadway, also known as 19 East Houston Street, in Soho. The deal closed on September 5, 2019 and was recorded on September 13, 2019.
The property contains a total of approximately 32,282 square feet of built space. Based on that figure, the average loan per buildable square foot is $2,142.
The last time the property sold was May 20, 2016, for $38,825,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on March 26, 2019.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $877,000.There has been one new building permit application totaling 30,833 square feet.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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