Mahmood Khimji, founder of Highgate Hotels, through the entity East 69th Street LLC as borrower signed a loan agreement with lender JPMorgan Chase Bank valued at $21.8 million for 1 parcel, including the tax class single-family, city residence (A4) at 29 East 69th Street in Lenox Hill. The deal closed on May 7, 2020 and was recorded on June 3, 2020.
This debt package adds $7.15 million to an existing loan of $14.6 million. The property contains a total of 8,745 square feet of built space.
The average loan per buildable square foot is $2,465.
The last time the property sold was November 6, 2015, when Khimji bought it for $22.5 million.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with one residential unit on December 10, 2013.
Over the past five years, there have been 7 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $760,000. There were 6 renovation/alteration projects (A2) applied for with a total estimated value of $704,500.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link