Magna Hospitality Group obtained financing of $67M from M&T Bank

Magna Hospitality Group through the entity Ai Iv LLC as borrower signed a loan agreement with lender Manufacturers And Traders Trust Company valued at $66.9 million for 1 parcel, including the tax class miscellaneous office building (O9) at 6 Water Street in Financial District. The deal closed on July 31, 2019 and was recorded on August 08, 2019.
The property contains a total of 102,407 square feet of built space.
The average loan per buildable square foot is $654.
The last time the property sold was March 13, 2014, for $44,250,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 250 residential (or hotel) units on September 19, 2017.
Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel. 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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